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Current Affairs Questions and Answers 31 December 2023

31 December 2023 Current Affairs Questions And Answers: Here, we are providing the Current Affairs Questions and Answers for 31 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:

  • Argentina’s BRICS membership
  • Sukanya Samriddhi Account Scheme (SSAS)
  • Public Provident Fund (PPF) rate
  • China’s ocean drilling vessel Mengxiang
  • India’s key infrastructure sectors
  • OSIRIS-REx spacecraft

31st 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 31st December Current Affairs 2023 Quiz covering the following topics Headlines: Argentina’s BRICS membership, Sukanya Samriddhi Account Scheme (SSAS), Public Provident Fund (PPF) rate, China’s ocean drilling vessel Mengxiang, India’s key infrastructure sectors, OSIRIS-REx spacecraft.

Q1. When was Argentina’s BRICS membership set to take effect, and how many new members were announced in August?

(a) January 1, 2023; Four new members

(b) January 1, 2024; Six new members

(c) December 31, 2023; Five new members

(d) February 1, 2024; Three new members

(e) January 1, 2025; Seven new members

 

Q2. What is the revised return on the Sukanya Samriddhi Account Scheme (SSAS) for the first quarter of 2024?

(a) 8%

(b) 8.1%

(c) 8.4%

(d) 8.3%

(e) 8.2%

 

Q3. How many quarters has the Public Provident Fund (PPF) rate remained unchanged as of the latest announcement?

(a) 3

(b) 4

(c) 5

(d) 6

(e) 7

 

Q4. What is the tax status of returns on the PPF and SSAS schemes?

(a) Taxable

(b) Partially taxable

(c) Tax-exempt

(d) Depends on the income bracket

(e) Subject to capital gains tax

 

Q5. What is the primary objective of China’s ocean drilling vessel Mengxiang?

(a) To explore deep-sea ecosystems.

(b) To reach the Earth’s mantle from the sea surface.

(c) To study marine biodiversity.

(d) To extract minerals from the ocean floor.

(e) To investigate underwater volcanic activity.

 

Q6. How much did the number of individual taxpayers filing returns increase from 2013-14 to 2021-22?

(a) 50%

(b) 70%

(c) 90%

(d) 110%

(e) 130%

 

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. Which year saw the introduction of a lower tax rate for corporations relinquishing exemptions?

(a) 2017

(b) 2018

(c) 2019

(d) 2020

(e) 2021

 

Q9. Which industry vision does Bima Vistaar align with?

(a) Global economic growth

(b) Technological innovation

(c) Insurance for all by 2047

(d) Environmental sustainability

(e) Financial market stability

 

Q10. What was the growth rate of India’s key infrastructure sectors in November?

(a) 5.2%

(b) 7.8%

(c) 12%

(d) 8.6%

(e) 5.7%

 

Q11. How did coal and refinery product outputs perform in November?

(a) Declined

(b) Remained stagnant

(c) Increased by 5%

(d) Increased by 10%

(e) Decreased by 2%

 

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 is the primary reason for redirecting the OSIRIS-REx spacecraft to study asteroid Apophis?

(a) Exhaustion of fuel after completing the Bennu mission

(b) To gather data during Apophis’s close encounter

(c) Technical issues with the spacecraft’s instruments

(d) Funding constraints for future space exploration

(e) Lack of interesting findings on asteroid Bennu

 

Q14. What does Apophis represent in Egyptian mythology?

(a) God of Light and Order

(b) Serpent-shaped god representing darkness and disorder

(c) God of Wisdom and Knowledge

(d) Symbol of Peace and Harmony

(e) Guardian deity of Earth

 

Q15. Who is set to be the chief guest at the Republic Day celebrations in New Delhi?

(a) Angela Merkel

(b) Boris Johnson

(c) Xi Jinping

(d) Justin Trudeau

(e) Emmanuel Macron

 

Solutions

 

S1. Ans.(b)

Sol. Argentina’s BRICS membership was scheduled to take effect from January 1, 2024, along with five other new members.

S2. Ans.(e)

Sol. The Union government increased the SSAS return to 8.2% for the first quarter of 2024.

S3. Ans.(d)

Sol.  The PPF rate has been stagnant for the sixth consecutive quarter.

S4. Ans.(c)

Sol. Tax-exempt, as returns on both PPF and SSAS are tax-free.

S5. Ans.(b)

Sol. Mengxiang’s main goal is to penetrate the Earth’s crust and explore the mysteries of the mantle.

S6. Ans.(c)

Sol. 90%. This indicates a significant widening of the tax base during this period.

S7. Ans.(b)

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

S8. Ans.(c)

Sol. 2019. This initiative aimed to simplify the tax regime for corporations.

S9. Ans.(c)

Sol. Bima Vistaar aligns with IRDAI’s vision for insurance for all by 2047

S10. Ans.(b)

Sol. India’s key infrastructure sector saw a slowdown with a six-month low of 7.8% growth in November. Declines in crude oil and cement production contributed to the dip, while coal and refinery products showed double-digit expansion.

S11. Ans.(d)

Sol. Increased by 10%. Coal and refinery products showed double-digit expansion.

S12. Ans.(c)

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

S13. Ans.(b)

Sol. The primary reason for redirecting the OSIRIS-REx spacecraft is the unique opportunity to gather valuable data during the close encounter with asteroid Apophis on April 13, 2029.

S14. Ans.(b)

Sol. Apophis is depicted as a serpent-shaped god in Egyptian mythology, representing darkness and disorder.

S15. Ans.(e)

Sol. President Emmanuel Macron of France is set to be the chief guest at the Republic Day celebrations in New Delhi.

31st December 2023 Current Affairs Quiz: Download PDF

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FAQs

What is the revised return on the Sukanya Samriddhi Account Scheme (SSAS) for the first quarter of 2024?

The Union government increased the SSAS return to 8.2% for the first quarter of 2024.