Daily Current Affairs Quiz

(a) Higher interest rates as compared to other fixed income opportunities. (b) Easy access to funds without penalty. (c) To reduce the tax liability by way of deductions. (d) Guaranteed return on investment. Ans.(c) Sol. Small savings schemes offer tax benefits under Section 80C, allowing investors to lower their taxable income by the amount invested

(a) Jan Dhan Mitra (b) PMJDY Locator (c) Financial Inclusion App (d) Jan Dhan Darshak App S8. Ans.(a) Sol. This mobile application was launched to provide a citizen-centric platform for locating banking touchpoints such as bank branches, ATMs, Bank Mitras, and Post Offices across the country.

(a) Mumbai, India (b) Rishikesh, Uttarakhand, India (c) Paris, France (d) New York City, USA Ans.(b) Sol. The Second G20 Anti-corruption Working Group Meeting was held in Rishikesh, Uttarakhand, India.

(a) Maharashtra (b) Telangana (c) Karnataka (d) Rajasthan Ans.(b) Sol. Telangana State has achieved 100% household coverage of banking services under PMJDY, extending them to all sections of the population.

(a) GPS and GLONASS (b) Galileo and Beidou (c) GPS and Galileo (d) GLONASS and BeiDou (e) all of the above Ans.(e) Sol. The NavIC signals, particularly the Standard Position Service (SPS), are interoperable with the signals from GPS (United States), Glonass (Russia), Galileo (European Union), and BeiDou (China). This interoperability increases the usability and

(a) High risk investment option (b) Variable interest rates (c) limited liquidity (d) no tax benefit Ans.(c) Sol. Small savings schemes are known to have limitations on liquidity, meaning premature withdrawals may not be allowed or may come with penalties.

(a) To encourage more people to invest in small savings schemes. (b) Preventing money laundering and terrorist financing activities. (c) To increase the interest rates offered by small savings schemes. (d) Simplifying the KYC process for investors. Ans.(b) Sol. In an effort to prevent money laundering and terrorist financing activities, the Indian government has implemented

(a) 6.8% (b) 7.0% (c) 7.1% (d) 7.5% Ans.(c) Sol. The SBI Ecowrap report projects India’s GDP growth at 7.1% in FY23, in line with the second advance estimates released by the National Statistical Office (NSO) in February.

Daily Quiz on Current Affairs 31 May 2023 is very important for Competitive Exams like SSC, Railway, RRB, Banking, IBPS, PSC, UPSC, etc. Our Gkseries team have composed these Current Affairs Quizzes from Newspapers like The Hindu and other competitive magazines.