3July MCQ : Current Affairs Quiz 3July 2023
In this article, we will discuss all the important Current Affairs MCQs of 3 July with full explanations. Where we will discuss the daily current affairs quiz’s questions and answers. So read all the important 3 July MCQs carefully.
Current Affairs Quiz / 3 July MCQ Current Affairs
3 July Current Affairs MCQ – Questions
1. Which of the following transactions will NOT attract Tax Collected at Source (TCS) under the Liberalised Remittance Scheme (LRS)?
(a) Overseas spending using international credit cards
(b) Remittances for education purposes
(c) Remittances for medical purposes
(d) Purchase of overseas tour program packages
2. The Tunguska event, which occurred on June 30, 1908, is known for:
(a) Largest recorded asteroid impact
(b) Discovery of a new comet
(c) First human landing on an asteroid
(d) Launch of the Hubble Space Telescope
3. Where is the headquarters of the Inter-Parliamentary Union (IPU) located?
(a) Paris, France
(b) New York, USA
(c) Geneva, Switzerland
(d) London, UK
4. What is insurance penetration?
(a) The percentage of insured individuals in a country
(b) The percentage of insurance companies in the market
(c) The percentage of insurance premiums to Gross Domestic Product (GDP)
(d) The percentage of insurance claims paid by companies
5. How will states be incentivized under the PM-PRANAM scheme?
(a) Through direct financial assistance
(b) By reducing taxes on agriculture
(c) By providing subsidies for organic farming
(d) By saving subsidies from reducing chemical fertilizer usage
6. Which of the following is not one of the seven handicrafts products from Uttar Pradesh that have received the GI tag?
(a) Amroha Dholak
(b) Kalpi Handmade Paper
(c) Baghpat Home Furnishings
(d) Kanpur Leather Craft
7. Which banks are currently ranked higher than HDFC in terms of equity market capitalization?
(a) JPMorgan Chase & Co., Industrial and Commercial Bank of China Ltd., Bank of America Corp.
(b) HSBC Holdings Plc, Citigroup Inc., State Bank of India
(c) JPMorgan Chase & Co., Bank of America Corp., HSBC Holdings Plc
(d) Industrial and Commercial Bank of China Ltd., Citigroup Inc., ICICI Bank
8. Which two routes are available for the Amarnath Yatra 2023?
(a) Nunwan-Pahalgam and Sonamarg
(b) Baltal and Gulmarg
(c) Nunwan-Pahalgam and Baltal
(d) Sonamarg and Baltal
9. Which of the following statements is true regarding the recent changes to the Liberalised Remittance Scheme (LRS) and Tax Collected at Source (TCS)?
(a) Overseas spending using international credit cards will now attract Tax Collected at Source (TCS).
(b) The implementation of a higher TCS rate for LRS remittances has been advanced to July 1, 2023.
(c) The revised TCS rate of 20% will be applicable to all LRS payments, regardless of the amount.
(d) The implementation of the new TCS rule has been postponed to October 1, 2023.
10. What recent development has taken place regarding India in the UN Secretary-General’s annual report on the impact of armed conflict on children?
(a) India has been included in the report for the first time.
(b) India has been removed from the report.
(c) India’s measures to protect children have been commended in the report.
(d) India’s name has been mentioned in the report, but no specific action has been taken.
11. Who has been appointed as the Special Director of the Central Bureau of Investigation (CBI)?
(a) Anurag
(b) Manoj Sashidhar
(c) Sharad Agarwal
(d) Ajay Bhatnagar
12. What was the total number of Aadhaar-based face authentication transactions recorded in May 2023?
(a) 10.6 million
(b) 14.86 million
(c) 254 million
(d) 15.2 billion
13. International Asteroid Day is annually commemorated on:
(a) December 31st
(b) January 1st
(c) February 15th
(d) June 30th
14. Every year, June 30th marks the celebration of the International Day of Parliamentarism, a day dedicated to commemorating the formation of the Inter-Parliamentary Union (IPU). What is the theme for this year’s International Day of Parliamentarism?
(a) Parliaments for Peace
(b) Parliaments for Democracy
(c) Parliaments for Transparency
(d) Parliaments for the Planet
15. Which department in India is responsible for the Geographical Indication Registry?
(a) Department of Commerce
(b) Department of Industry Promotion and Internal Trade
(c) Department of Handicrafts
(d) Ministry of Commerce and Industry
3 July MCQs – Answers
1. (a)
Overseas spending using international credit cards will no longer be included under the Liberalised Remittance Scheme (LRS) and, therefore, will not attract Tax Collected at Source (TCS). The other options, b, c, and d, do attract TCS under certain conditions.
2. (a)
The Tunguska event, which occurred on June 30, 1908, in Siberia, Russia, is known as the largest recorded asteroid impact in Earth’s history.
3. (c)
The Inter-Parliamentary Union (IPU) has its headquarters in Geneva, Switzerland. The current President of the IPU is Duarte Pacheco, and the Secretary-General is Martin Chungong.
4. (c)
Insurance penetration is a measure that represents the percentage of insurance premiums (revenue) in relation to the Gross Domestic Product (GDP) of a country.
5. (d)
States will be incentivized under the PM-PRANAM scheme by receiving a portion of the subsidy savings achieved through the reduced use of chemical fertilizers.
6. (d)
Kanpur Leather Craft is not mentioned among the seven handicraft products from Uttar Pradesh that have received the GI tag. The given list includes Amroha Dholak, Kalpi Handmade Paper, Baghpat Home Furnishings, Barabanki Handloom Product, Mahoba Gaura Patthar Hastashlip, Mainpuri Tarkashi, and Sambhal Horn Craft.
7. (a)
JPMorgan Chase & Co., Industrial and Commercial Bank of China Ltd., Bank of America Corp. HDFC has achieved the rank of the world’s fourth most valuable bank.
8. (c)
Nunwan-Pahalgam and Baltal. Pilgrims participating in the Amarnath Yatra 2023 can choose between the traditional 48-kilometer Nunwan-Pahalgam route and the shorter but steeper 14-kilometer Baltal route.
9. (d)
Implementation of the higher rate of Tax Collected at Source (TCS) for LRS remittances has been deferred to October 1, 2023, instead of the previously scheduled date of July 1, 2023. This postponement allows banks and card networks to have sufficient time to establish the necessary IT-based solutions.
10. (b)
The passage states that UN Secretary-General Antonio Guterres has removed India from his annual report on the impact of armed conflict on children, citing improved measures taken by the Indian government to protect children.
11. (d)
Ajay Bhatnagar (IPS) has been appointed as the Special Director in the Central Bureau of Investigation (CBI) according to a DoPT order. He is a 1989-batch IPS officer of the Jharkhand cadre.
12. (a)
The total number of Aadhaar-based face authentication transactions reached an all-time high of 10.6 million in May.
13. (d)
International Asteroid Day is observed on June 30th each year to commemorate the Tunguska impact that occurred in Siberia, Russia, on June 30, 1908.
14. (d)
The theme for this year’s International Day of Parliamentarism is ‘Parliaments for the Planet.’ The Inter-Parliamentary Union (IPU) has launched the campaign ‘Parliaments for the Planet’ to emphasize the role of parliaments in addressing climate change.
15. (b)
The Geographical Indication Registry in Chennai, Tamil Nadu is under the Department of Industry Promotion and Internal Trade (DIPIT) of the Ministry of Commerce and Industry (MoCI).
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