Correct Answer : Option (D) - 15%

The government's Goods and Services Tax (GST) collections climbed 15% year-on-year in November to Rs 1.68 lakh crore, the Ministry of Finance said on December 1, 2023.

* At Rs 1.68 lakh crore, the November GST collections is 2% lower than the Rs 1.72 lakh crore collected in October 2023.

* This is the 9th month in a row that the monthly GST collection has come in above the Rs 1.5-lakh-crore mark.

* The latest GST data takes the average monthly collection in 2023-24 to Rs 1.67 lakh crore. Monthly GST collections have risen over the years. From averaging under Rs 1 lakh crore per month in 2017-18 - its first year - collections rose rapidly after the pandemic-hit 20202-21 to average Rs 1.51 lakh crore in 2022-23.

* In November 2023, Central GST was Rs 30,420 crore, State GST was Rs 38,226 crore, Integrated GST was Rs 87,009 crore, and compensation cess was Rs 12,274 crore.

* Further, the government settled Rs 37,878 crore to Central GST and Rs 31,557 crore to State GST from Integrated GST. As a result, the total revenue for the month post settlement was Rs 68,297 crore for the Centre and Rs 69,783 crore for State GST.

Correct Answer : Option (C) - 9.99%

The Reserve Bank of India (RBI) has granted approval on Wednesday (29th Nov 2023) to SBI Mutual Fund (SBI MF) for acquiring up to 9.99% of the paid-up share capital or voting rights of Karur Vysya Bank Ltd (KVB).

This move signals a potential strategic a potential strategic investment by SBI MF in the private sector leader. However, there are conditions attached to this approval, including a time constraint and limitations on the aggregate holding.


Conditions and Timelines : The approval comes with certain conditions attached. According to a regulatory filing by the private sector lender, SBI MF must complete the acquisition of major shareholding within one year from the date of the RBI’s letter. Failure to do so within the specified timeframe will result in the automatic cancellation of the approval. This condition sets a clear timeline for the mutual fund to solidify its position within Karur Vysya Bank.


Ownership Limits and Regulatory Compliance : To ensure a balanced and regulated approach, SBI, MF is mandated to maintain its aggregate holding in KVB below 9.99% at all times. Additionally, a safeguard mechanism is in place – if the aggregate holding falls below 5% prior approval from the RBI will be required for any increase to 5% or more of the paid-up share capital or voting rights of KVB. These limits and regulatory checks are designed to maintain stability and prevent any undue influence on the bank’s operations.

Correct Answer : Option (B) - Twinkle Khanna

Actor-turned-author Twinkle Khanna has announced her new book Welcome to Paradise. Taking to Instagram on Thursday, Twinkle shared a picture of herself holding her new book. She also shared snippets from her fourth book, which will be released in November 2023.


Twinkle announces new book :

Sharing the post, she wrote, “Welcome to Paradise, my 4th book, is a collection of stories that explore the depths of heartbreak, relationships, and deception. Some of these characters have lived inside my head for the last five years, and now they are ready to meet all of you (smile emoji). Preorders open tomorrow… Welcome to Paradise.”