2024 Latest Current Affairs, Daily Current Affairs in 2024, 2023, 2022, 2021, 2020

1 .

Centre has extended the existing Foreign Trade Policy (FTP) till September 30, 2022. The existing five year FTP was launched for which period?

A)

2014-2019

B)

2015-2020

C)

2016-2021

D)

2017-2022

Correct Answer : 2015-2020

The Directorate General of Foreign Trade (DGFT), under the Ministry of Commerce and Industry has announced an extension in the existing Foreign Trade Policy (FTP) 2015-2020 by another six months till September 30, 2022, to ensure policy continuity in external trade.

Published On : April 2, 2022

2 .

Who has been appointed as the new Director General of Geological Survey of India (GSI)?

A)

Dr. S. Raju

B)

H Rajaram

C)

Lalan Singh

D)

Bhaskar Sharm

Correct Answer : Dr. S. Raju

Dr.S. Raju, Additional Director General and National Mission Head-III and IV, GSI has taken over the charge of Director General (DG) of Geological Survey of India (GSI), Ministry of Mines, anesteemed geoscientific organization in the country on 1st April 2022. He hails from Pasuvanthanai village, near Thoothukudi, Tamil Nadu and heowns under graduation in Geology from V.O.C. College, Thoothukudiand Masters in Geologyfrom Presidency College, Chennai. He was awarded doctoral degree in Geology from University of Lucknow for his outstanding contribution to the field of petrography and geochemistry of dykes of BundelkhandCraton. He has several research publications on national/international journals to his credits.

Dr.S. Raju joined Geological Survey of India in 1988. During the initial period of hiscareer, he was instrumental in geological mapping of Bundelkhand Granitic Complex in Uttar Pradesh and alsoexecuted investigation on gold mineralization and carried out geo-environmental appraisal of Jhansi district of Bundelkhand Region, Uttar Pradesh.With his expertise, he has also supplemented in geology of Tamil Nadu especially, establishing the metamorphic and techtono-magmatic history of the Satyamangalam Group of rocks.

He has also served as Deputy Director General of State Unit: Tamil Nadu and Puducherry, GSI Chennai from 2015 to 2018, during his tenure he has expedited several mapping and mineral exploration projects of Tamil Nadu and also he has given special emphasises on developments of Geological monuments of Tamil Nadu including National Fossil Wood park atThiruvakkarai, National Geological Monuments of Charnockite at St. Thomas Mount, Chennai.

He has conceptualized and instrumental in construction of new office cum laboratory complex with modern laboratory facilities at Chennai in the State Unit: Tamil Nadu and Puducherry..

Source : PIB

Published On : April 2, 2022

3 .

Which state launches scheme to offer personal loans for prisoners?

A)

Haryana

B)

Karnataka

C)

Maharashtra

D)

Chhattisgarh

Correct Answer : Maharashtra

Maharashtra government on Tuesday(29th Mar 2022) launched a scheme to provide personal loans for prisoners with the aim to improve the living standard of the families of the inmates.

The Maharashtra State Co-operative Bank will give loans under the scheme up to Rs 50,000 at an interest rate of 7 percent. The scheme will be implemented on a pilot basis at Yerawada Central Jail, Pune, said Maharashtra Home Minister Dilip Walse Patil.

The decision was taken in a meeting chaired by Home Minister Patil at Sahyadri Guest House and also a Government Resolution (GR) was issued in this regard.

Launching the scheme, Patil said, “It will also be the first innovative loan scheme in the country to get a loan based on the income earned while working in a prison. With this, a welfare scheme can come in concrete form and approximately 1,055 prisoners can benefit from the scheme. Many inmates are serving long-term imprisonment. Since the majority of these inmates are prominent members of the family, their families may become distraught.”..

Source : The Print

Published On : April 1, 2022

4 .

How much tax will be imposed on the transfer of virtual assets from April 1st?

A)

18%

B)

25%

C)

30%

D)

35%

Correct Answer : 30%

If you have invested in cryptocurrencies, be ready to pay tax on the gains from 1st April 2022 under the new scheme for Taxation of Virtual Digital Assets.

During the budget speech on February 1, Finance Minister Nirmala Sitharaman proposed a flat 30% capital gains tax on all virtual digital assets, a 1% Tax Deductible at Source (TDS) on all transactions involving virtual digital assets ( VDAs), no offsetting of losses, and taxation of crypto gifts. VDAs include cryptocurrency as well as non- fungible tokens (NFTs).

The chairman of Central Board of Direct Taxes, JB Mohapatra, in a statement on March 17, 2022, confirmed that the proposed 30% taxation on income from cryptocurrencies and other virtual assets will come into effect from April 1, 2022.

TDS at the rate of 1% shall be deducted on transactions in such digital asset classes from July 1.

How your crypto assets will be taxed :

From 1st April 2022, a 30(%) percent I-T plus cess and surcharges will be levied in the same manner as it treats winnings from speculative transactions.

One per cent TDS on payments towards virtual currencies beyond Rs 10,000 in a year and taxation of such gifts in the hands of the recipient. The 1 per cent TDS will have to be deducted on the purchase value of the transaction. The threshold limit for TDS would be Rs 50,000 a year for specified persons, which include individuals/HUFs who are required to get their accounts audited under the I-T Act. The provisions related to 1 per cent TDS will come into effect from July 1, 2022, while the gains will be taxed effective April 1.

You may sell cryptocurrency at a profit or loss but TDS at the rate of 1 percent would occur irrespective. However, one can claim refund of TDS done on transaction involving loss.

"The flat 30% tax rate may not prove to be the best outcome since it does not consider aspects of long and short-term gains calculated in line with the holding period of VDAs. Gifting VDAs may not become mainstream due to this tax regime. The challenge in the trade of VDAs is with respect to determining the identity of payee and thus, VDA transactions demand more transparency, " said Rishi Anand, Partner at DSK Legal..

Source : Times of India

Published On : April 1, 2022

5 .

Which among the following countries is facing its worst economic crisis with extreme fuel, food and electricity shortages?

A)

Japan

B)

France

C)

Pakistan

D)

Sri Lanka

Correct Answer : Sri Lanka

Sri Lankans faced up to almost 10-hour of power cuts on March 30th and there were warnings of longer blackouts on March 31st. Sri Lanka also ran out of diesel on March 31st, crippling the country's transportation system. The Sri Lanka electricity regulator has urged more than a million government employees to work from home to save fuel, as record-long power blackouts continue. Diesel, which is the main fuel of buses and commercial vehicles, was unavailable across the nation on March 31st.

Published On : April 1, 2022

6 .

Who is unveiled the 'Fast and Secured Transmission of Electronic Records' (FASTER) on 31st Mar 2022?

A)

Narendra Modi

B)

N. V Ramana

C)

Dipak Misra

D)

K. K. Venugopal

Correct Answer : N. V Ramana

The Fast and Secured Transmission of Electronic Records (FASTER) software has been launched by the Chief Justice of India "N. V Ramana" so that court orders can be transmitted securely and swiftly via electronic mode thus ensuring that judicial orders can be communicated quickly.

Overview :

* Through the use of this software orders that were passed by the high courts (HC) and the Supreme Court (SC) will be transmitted safely without any third-party interference.

* 73 nodal officers have been nominated at the HC level and jail authorities have also been selected through a network of judicial communication.

* For this software a secure pathway email id has also been established.

Usage of this software : Bail orders will be communicated via FASTER and for authentication purposes, it will have the digital signatures of the notified nodal officers of the SC as well as the Institutional digital signatures. In this manner, without much loss of time, bail orders would be received by all the concerned parties and quick necessary actions will be taken at their end. Communication will be restricted to the holders of email ids thus ensuring safety, confidentiality, and security. A total of 1,887 email ids of the selected nodal officers have been connected.

Need for such software : In the past, it was seen that even after bail orders were passed, inmates were not released by the prison authorities as the hard copies of the certified bail orders reached late. Thus, this software was implemented so that Article 21, Right to Life, could be implemented swiftly and the bail orders are executed on time.

Published On : April 1, 2022

7 .

Centre has extended the timeline for Emergency Credit Line Guarantee Scheme (ECLGS) by one year till March 2023. What is the total amount sanctioned for the ECLGS 3.0 scheme?

A)

Rs 5 lakh crore

B)

Rs 6 lakh crore

C)

Rs 7 lakh crore

D)

Rs 8 lakh crore

Correct Answer : Rs 5 lakh crore

Central Government has extended the Emergency Credit Line Guarantee Scheme (ECLGS) by one year, beyond March 2022 until March 2023. The total amount to be sanctioned under the ECLGS 3.0 scheme has also been increased from Rs 4.5 lakh crore to Rs 5 lakh crore.

Published On : April 1, 2022

8 .

As per CBDT data, what is the total number of Advance Pricing Agreements (APA) signed by it with Indian taxpayers in FY 2021-22?

A)

55

B)

62

C)

76

D)

89

Correct Answer : 62

The Central Board of Direct Taxes (CBDT) "signed 62" Advance Pricing Agreements (APA) with Indian taxpayers in FY 2021-22. This included 13 Bilateral APAs (consequent to Mutual Agreement between India and its treaty partners) and 49 Unilateral APAs. With this, the total number of APAs has gone up to 421, since inception of the APA program.

Published On : April 1, 2022

9 .

Which state government has launched the "Vinaya Samarasya" Initiative?

A)

Bihar

B)

Assam

C)

Karnataka

D)

Madhya Pradesh

Correct Answer : Karnataka

The Karnataka government (Basavaraj Bommai) announced the Vinaya Samarasya Yojana as a public awareness campaign against caste prejudice in the state’s gramme panchayats. It will be formally launched on April 14th, 2022, the birth anniversary of Dr. B.R. Ambedkar.

* The initiative was named after Vinay, a three-year-old Dalit kid who strayed into a temple in Miyapur hamlet in Karnataka’s Koppal district to seek shelter from the rain in September 2021. His family has faced even greater hostility since being fined Rs 25,000 by village elders.

* The area’s 1,500 members, largely from the Ganiga group, had intensified their persecution of the Dalit family in the meantime, forcing Vinay’s family to leave the village and abandon possessions, including agricultural land.

All of the accused who were imprisoned for caste prejudice in the aftermath of the incident were also released on bail, and they continue to control the village, according to Vinay’s relatives and family.

Published On : April 1, 2022

10 .

Who has been re-elected as the Chairman of Payments Council of India (PCI) for the second time in 2022?

A)

Mani kumar

B)

Parameswar Nair

C)

Manoj Singh

D)

Vishwas Patel

Correct Answer : Vishwas Patel

Vishwas Patel has been re-elected as the Chairman of Payments Council of India (PCI) for the second time in 2022, previously he was elected as a Chairman of PCI in the year 2018. In 2013, he served as Co-Chairman of PCI. PCI is a payment ecosystem industry body and is a part of the Internet and Mobile Association of India (IAMAI). PCI aims to promote a cashless transaction society and vision to grow digital payment in India.

Published On : April 1, 2022