Current Affairs - Quiz -8

The correct answer is 3) Reserve Bank of India. The Reserve Bank of India is responsible for managing the foreign exchange reserves of India. It holds and manages these reserves on behalf of the government and plays a crucial role in maintaining the stability of the Indian rupee in the foreign exchange market. The Ministry of Finance, EXIM bank, select public sector banks, and treasury offices do not have the authority or responsibility to hold and manage the foreign exchange reserves of India.

PEMRA has asked television networks to refrain from promoting the film "Ek Tha Tiger" until it is cleared by the Central Board of Film Censors because the film carries a negative reference to the ISI.

Bridge loans refer to interim finance allowed by banks to their customers pending disbursement of term loans by financial institutions. This means that bridge loans are short-term loans provided to bridge the gap between the immediate need for funds and the availability of long-term financing. These loans are typically used by individuals or businesses to cover expenses until they can secure more permanent financing.

The Bihar government has launched an e-payment facility for commercial vehicle owners in partnership with the State Bank of India. This means that commercial vehicle owners in Bihar can now make electronic payments for various services related to their vehicles, such as road tax, fines, and fees. The partnership with State Bank of India allows for a seamless and convenient digital payment process, benefiting both the vehicle owners and the government in terms of efficiency and transparency.

MCX Stock Exchange has been granted permission by SEBI to operate as a full-fledged stock exchange.

Portugal has cancelled the extradition of the underworld don Abu Salem. This means that Portugal has reversed its decision to send Abu Salem back to his home country. It is unclear why Portugal made this decision, but it could be due to legal or political reasons.

CBEC stands for Central Board of Excise and Customs. It is the highest authority in India for Indirect Taxes. The CBEC is responsible for formulating policies regarding customs, central excise, service tax, and other indirect taxes in India. It also ensures the implementation and administration of these tax laws and regulations. Therefore, CBEC is the correct answer as the short name of the highest authority in India for Indirect Taxes.

The Constituent Assembly in Nepal recently expired without drafting a Constitution. This means that the assembly, which was responsible for creating a new constitution for the country, did not complete its task within the designated time frame. This could have been due to various reasons such as political disagreements, conflicts, or other challenges faced by the assembly members. It is important for a country to have a constitution as it serves as a fundamental legal document that outlines the structure of the government and guarantees the rights and freedoms of its citizens.

Sri Lanka is taking help from India to design a programme based on the Mahatma Gandhi National Rural Employment Guarantee Scheme.

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