Daily Quiz May 2023

CA QUIZ

____________ is the new relaxation in TCS rules for international debit and credit card transactions in India ?

(a) 10 percent TCS on all international transactions (b) Exemption from TCS for transactions up to Rs 7 lakh per financial year (c) 20 percent TCS on all international transactions (d) Exemption from TCS for transactions up to Rs 5 lakh per financial year Ans.(b) Sol. The Indian government has relaxed the TCS rules and

____________ is the new relaxation in TCS rules for international debit and credit card transactions in India ? Read More »

CA QUIZ

Which of the following ministry is responsible for implementing the “ My LiFE, My Clean City” campaign ?

(a) Ministry of Health and Family Welfare (b) Ministry of Environment, Forest and Climate Change (c) Ministry of Housing and Urban Affairs (d) Ministry of Rural Development Ans.(c) Sol. The “Meri LiFE, Mera Swachh Seher” campaign is implemented under the auspices of the Ministry of Housing and Urban Affairs.

Which of the following ministry is responsible for implementing the “ My LiFE, My Clean City” campaign ? Read More »

CA QUIZ

Public Sector Banks (PSBs) in India have achieved a significant milestone in the financial year ending March 2023 , their cumulative profit has crossed the Rs 1 lakh crore mark. Which of the following public sector bank registered the highest net profit growth in percentage terms in FY2023 ?

(a) State Bank of India (SBI) (b) Bank of Maharashtra (BoM) (c) UCO Bank (d) Bank of Baroda Ans.(b) Sol. According to the financial results analysis, Bank of Maharashtra recorded the highest net profit growth of 126 percent to Rs 2,602 crore in FY23.

Public Sector Banks (PSBs) in India have achieved a significant milestone in the financial year ending March 2023 , their cumulative profit has crossed the Rs 1 lakh crore mark. Which of the following public sector bank registered the highest net profit growth in percentage terms in FY2023 ? Read More »

CA QUIZ

What are the recent changes made by IRDAI with respect to solvency requirements for Surety Bonds?

(a) Solvency requirement increased from 1.5 times to 1.875 times (b) Completely removed the solvency requirement (c) Solvency requirement reduced from 1.875 times to 1.5 times (d) Set the solvency requirement at 2 times the previous limit (e) None of the above Ans.(c) Sol. IRDAI has relaxed the solvency requirement for surety bonds, making it

What are the recent changes made by IRDAI with respect to solvency requirements for Surety Bonds? Read More »

CA QUIZ

The Insurance Regulatory and Development Authority of India (IRDAI) has recently announced relaxation of norms for surety bonds. _________ is the purpose of surety bond in the context of insurance ?

(a) To protect the parties from possible financial loss due to natural calamities (b) Providing coverage for personal property and belongings (c) Managing the risks associated with breach or non-performance of the contract (d) Providing health insurance coverage to individuals and families Ans.(c) Sol. Surety bonds serve as an insurance policy that protects parties involved

The Insurance Regulatory and Development Authority of India (IRDAI) has recently announced relaxation of norms for surety bonds. _________ is the purpose of surety bond in the context of insurance ? Read More »

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