Daily Current Affairs Quiz : January 4, 2022

Notes:
The GST Council decided to defer the increase in the rate for textiles to 12% from 5%. It has referred the matter to a panel of Ministers, to review Rate Rationalisation.
The GST on all readymade textile items, except those made with cotton, was earlier hiked to 12 per cent. The GST on footwear, except those below Rs 1,000, was also hiked to 12 per cent from 5 per cent. State representatives from Gujarat, West Bengal, Rajasthan and Tamil Nadu opposed the hike.

Notes:
Jharkhand Chief Minister Hemant Soren announced concession of Rs 25 per litre on petrol and diesel prices for two-wheelers owned by the poor.
The concession will be given for 10 litres of petrol for every month. An amount of Rs 25 per litre would be transferred to the bank account of poor ration card holders.

Notes:
The Reserve Bank of India (RBI) has extended the last date for KYC updation for bank accounts by three months to March 31 next year.
The deadline has been extended due to prevalent uncertainty due to new variant of Covid-19. RBI had relaxed the rules first in May last year due to pandemic. It also announced that banking services should not be restricted because the KYC documents are not updated by the customer.

Notes:
India’s first indigenously developed Receptor Binding Domain (RBD) protein sub-unit vaccine for COVID-19 is CORBEVAXTM.
The vaccine, which has been developed by Biological E Limited, has recently received the Drug Controller General of India (DCGI) approval for Emergency Use Authorization (EUA). The Department of Biotechnology (DBT) and its PSU Biotechnology Industry Research Assistance Council (BIRAC), have supported Biological E’s COVID-19 vaccine candidate.

Notes:
The Pakistan Government has confirmed the purchase of at least 25 Chinese J-10C fighter jets for the Pakistan Air Force.
Pakistan claims these jets as an alternative to France’s Rafale fighter jets owned by India. Pakistan also has a fleet of US-made F-16s jets.