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7th October 2023 Current Affairs Quiz: Welcome to the 7th October 2023, Current Affairs Quiz, where we delve into the latest and most significant events from around the world. In this engaging quiz, we will test your knowledge on a wide range of topics, including politics, economics, science, and culture, to keep you up-to-date with the ever-changing landscape of current events. Stay tuned as we explore the headlines that have shaped the day and challenge your awareness of the world’s happenings. Let’s dive into this informative and thought-provoking quiz to see how well you’ve been keeping up with the latest news and developments!
7th October 2023 Current Affairs | Today GK Quiz
1. What is the primary goal of Air India’s newly inaugurated mega warehouse facility in Delhi?
A) To enhance passenger comfort.
B) To streamline and optimize aircraft maintenance operations.
C) To serve as a luxury lounge for travelers.
D) To provide additional parking space for aircraft.
Answer: B) To streamline and optimize aircraft maintenance operations.
Explanation: The primary goal of the mega warehouse facility is to streamline and optimize aircraft maintenance operations.
2. Why does Air India’s mega warehouse include a comprehensive inventory of aviation components?
A) To provide additional seating for passengers.
B) To showcase their collection of aircraft parts.
C) To have quick access to essential resources for maintenance.
D) To serve as a tourist attraction.
Answer: C) To have quick access to essential resources for maintenance.
Explanation: The comprehensive inventory ensures Air India has quick access to essential resources required for aircraft maintenance.
3. Who is the brand ambassador for Reliance Retail’s JioMart?
A) Virat Kohli
B) Sachin Tendulkar
C) Mahendra Singh Dhoni
D) Rohit Sharma
Answer: C) Mahendra Singh Dhoni
Explanation: Mahendra Singh Dhoni has been signed up as the brand ambassador for JioMart.
4. What is the primary focus of the JioUtsav campaign?
A) Promoting JioMart as a global platform.
B) Celebrating Indian cricket victories.
C) Celebrating India’s culture, festivals, and Dhoni’s achievements.
D) Offering discounts on electronic products.
Answer: C) Celebrating India’s culture, festivals, and Dhoni’s achievements.
Explanation: The JioUtsav campaign is designed to celebrate India’s culture, festivals, and recognizes Dhoni’s cricketing achievements.
5. What is the primary purpose of the ‘SUGAM REC’ mobile application launched by REC Limited?
A) To provide tax exemption to investors.
B) To simplify the investment process for 54EC Capital Gain Tax Exemption Bonds.
C) To offer financial services to rural areas.
D) To facilitate government bond investments.
Answer: B) To simplify the investment process for 54EC Capital Gain Tax Exemption Bonds.
Explanation: The ‘SUGAM REC’ mobile application is designed to cater to the needs of investors interested in REC’s 54EC Capital Gain Tax Exemption Bonds.
6. What does Section 54EC of the Income Tax Act provide for investors?
A) Tax exemption on capital gains.
B) Tax deductions on income.
C) Tax rebates on property investments.
D) Tax credits for education expenses.
Answer: A) Tax exemption on capital gains.
Explanation: Section 54EC Bonds provide tax exemption on capital gains to investors as per Section 54EC of the Income Tax Act.
7. What is the primary focus of the Reserve Bank of India (RBI) as emphasized by Governor Shaktikanta Das in the recent announcement?
A) Lowering benchmark interest rates.
B) Achieving a durable 4% inflation target.
C) Increasing the repo rate.
D) Expanding the agricultural sector.
Answer: B) Achieving a durable 4% inflation target.
Explanation: RBI Governor Shaktikanta Das emphasized the central bank’s commitment to achieving a durable 4% inflation target.
8. Why did the Monetary Policy Committee (MPC) decide to maintain the policy repo rate at 6.50% in the current meeting?
A) To lower inflation expectations.
B) To encourage economic growth.
C) To align inflation with the 4% target.
D) To increase interest rates for borrowers.
Answer: C) To align inflation with the 4% target.
Explanation: The MPC decided to maintain the policy repo rate at 6.50% to align inflation with the 4% target.
9. Who has been appointed as the new Chairman and Managing Director (CMD) of the General Insurance Corporation of India (GIC Re)?
A) Devesh Srivastava
B) Ramaswamy N
C) Lloyds Syndicate
D) Financial Services Institution Bureau (FSIB)
Answer: B) Ramaswamy N
Explanation: Ramaswamy N has been appointed as the new Chairman and Managing Director (CMD) of GIC Re.
10. What was the basis for the recommendation of Ramaswamy N as the ideal candidate to lead GIC Re?
A) His previous role as the head of GIC Re’s UK branch.
B) His extensive experience and qualifications.
C) His approval by the outgoing CMD.
D) His role in the establishment of the Lloyds syndicate.
Answer: B) His extensive experience and qualifications.
Explanation: Ramaswamy N was recommended based on his extensive experience and qualifications, which subsequently received approval from the Finance Ministry.
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