Quiz 130 (update): Finance, Business & Economy Current Affairs for Bank PO Exams

1. Recently, we read in the Economic Newspapers that Indian rupee has recorded the biggest drop since December at 1.3% to 54.49 per US dollar, making it the worst-performing currency in Asia this year. In economic language, what is the correct term used for this drop in Indian Rupee?
[A]Devaluation
[B]Depreciation
[C]Deflation
[D]Depression
Depreciation
You should know the difference between Depreciation and Devaluation. Devaluation’ means official lowering of the value of a country’s currency within a fixed exchange rate system, by which the monetary authority formally sets a new fixed rate with respect to a foreign reference currency. In contrast, depreciation is used for the unofficial decrease in the exchange rate in a floating exchange rate system.

2. In context with the falling rupee, a leading newspapers wrote recently that “RBI has used up most of the available ammunition to prevent the rupee’s slide in the over-the counter market, but without much success”. Which among the following steps was taken by RBI , that has been referred to available ammunition in this statement?
[A]RBI sold the foreign currency in market
[B]RBI purchased the foreign currency from market
[C]RBI purchased the stocks from various stock exchanges in India
[D]RBI Revaluated the Indian Rupee
RBI sold the foreign currency in market
Dollars were sold so that rupee becomes dearer and the fall in rupee can be checked.

3. A news headline in a leading Business daily mentions that Prime Minister Office (PMO) has proposed to create SPVs to Speed Up Infrastructure Projects. Which among the following is a correct statement in context with an SPV here?
[A]SPV refers to the process of inviting tenders for large projects
[B]SPV refers to special entity or company created for a particular purpose or project
[C]SPV refers to an agreement between the Government and big corporate contractors
[D]SPV is a project which is completed in Public Private Partnership
SPV refers to special entity or company created for a particular purpose or project
SPV is special purpose vehicle.

4. We read in the newspapers that while doing the regulatory filing, social networking firm Facebook, which is primed for the biggest-ever share offering by an internet firm, has mentioned in its documents that “Users in _____, ____and ____represent key sources of our growth”. The three countries mentioned in this statement as are follows:
[A]India, US, UK
[B]India, China, US
[C]India, US, Brazil
[D]India, US, UK
India, US, Brazil
Facebook, which is primed for the biggest-ever share offering by an internet firm, counts India, along with the United States and Brazil, as its main growth drivers, the company has said in a regulatory filing. Nearly one out of every two internet users in India is now on Facebook, which makes India the second- largest user base for the Menlo Park-based social networking firm, headed for a mega listing on Nasdaq. (ET, May 17, 2012)

5. Who among the following is the writer of the bestseller of last decade “The World Is Flat: A Brief History of the Twenty-First Century”?
[A]Amartya Sen
[B]Thomas Friedman
[C]Eugene Robinson
[D]Connie Schultz
Thomas Friedman
Thomas Lauren Friedman (born July 20, 1953) is an American journalist, columnist and author. He writes a twice-weekly column for The New York Times. He has written extensively on foreign affairs including global trade, the Middle East, and environmental issues and has won the Pulitzer Prize three times. The World Is Flat: A Brief History of the Twenty-First Century is an international bestselling book by Thomas Friedman that analyses globalization, primarily in the early 21st century. (wikipedia)

6. A news in a leading Business Newspaper mentions that “The nutraceuticals segment in India is expected to touch $5 billion by 2015, from $2 billion currently.”. What are these nutraceuticals?
[A]Neutraceuticals are food or food product that reportedly provide health and medical benefits
[B]Neutraceuticals are protein and glycoprotein, present in barley and some other cereals
[C]Neutraceuticals are medicines derived from food products
[D]Neutraceuticals are Vitamin fortified cereals
Neutraceuticals are food or food product that reportedly provide health and medical benefits

7. There have been frequent news items in all the leading News Papers recently that there is a declining gas production from the Krishna Godavari basin — only gas-producing block of India. Which of the following company is producing gas over there?
[A]Oil and Natural Gas Corporation
[B]Hindustan Petroleum
[C]GAIL
[D]Reliance Industries
Reliance Industries

8. A retrospective amendment in income tax law that could force British telecom operator Vodafone to pay Rs. 20,300 crore as tax, interest and penalty, has been a hot topic in current politico-economical arena. The Vodafone asked to pay tax on its acquisition of Hutchison’s stake in the $11.2-billion Hutchison Essar deal, which was executed in a tax heaven. Which among the following was this tax heaven?
[A]Bahamas
[B]Seychelles
[C]Cayman Islands
[D]Virgin Islands
Cayman Islands
The $11.2-billion Hutchison Essar deal was executed in Cayman Islands in UK. . The government had retrospectively amended the law after its tax demand on Vodafone was struck down by the SC. The amendment allows transactions involving Indian assets to be taxed in India even if deals are executed overseas.

9. While presenting the Union Budget 2012-13, Finance Minister Pranab Mukherjee said that “following the decision taken in the PM’s National Council on India’s Nutritional Challenges, a multi-sectoral programme to address maternal and child malnutrition in selected 200 high-burden districts, is being rolled out during 2012-13. It will harness synergies across nutrition, sanitation, drinking water, primary healthcare, women’s education, food security and consumer protection schemes.” The Finance Minister was referring to which among the following schemes?
[A]Integrated Child Protection Scheme (ICPS)
[B]Integrated Child Development Services (ICDS)
[C]National Nutrition Mission (NNM)
[D]National Food Security Mission (NFSM)
National Nutrition Mission (NNM)
A National Nutrition Mission (NNM) was set up under the chairmanship of the Prime Minister in 2003. Subsequently in 2008, the Prime Minister’s National Council on India’s Nutritional Challenges was constituted. The meeting of the Council held on 24.11.2010 interalia decided to (i) Strengthen and restructure the ICDS scheme, (ii) Introduce a multicultural programme to address maternal and child malnutrition in selected 200 high-burden districts, (iii) Introducing a nationwide information, education and communication campaign against malnutrition and (iv) Making nutrition a focus in the programmes and schemes of line Ministries

10. Which among the following scheme launched by Government of India is a “Conditional Cash Transfer” scheme for Girl Child?
[A]Swadhar
[B]Svayamsidhha
[C]Dhanlakshmi
[D]Sabla
Dhanlakshmi
Conditional Cash Transfer Scheme for the Girl Child with Insurance cover (Dhanlakshmi): This is a Central Sector scheme being implemented on a pilot basis in 11 blocks of 7 States viz, Andhra Pradesh, Bihar, Jharkhand, Uttar Pradesh, Punjab, Chattisgarh and Odisha. The scheme is aimed at eliminating discrimination against girl child which is there at every step of her life in terms of foeticide, infanticide, little or no access to education, health and other services as well as violence and abuse. Cash transfer will be provided to the family of the girl child (preferably the mother) on fulfilling certain conditionalities for the girl child viz. birth and registration of the girl child, immunisation, enrolment to school and retention in school.

11. Which among the following is an international grouping of industrialised economies of the world?
[A]G-20
[B]G-8
[C]G-4
[D]OECD
G-8
The G8, includes industrialised economies like Canada, France, Germany, Italy Japan, Russia, UK and the US.

12. In which among the following international organizations, you can spot only those countries which have highest Human Development Index (HDI)?
[A]G-8
[B]G-77
[C]OECD
[D]G-20
OECD
Most OECD members are high-income economies with a “very high” Human Development Index (HDI) and are regarded as developed countries.

13. Rovuma Basin, which was making news for Gas discovery is located off the coast in which among the following African Countries?
[A]Tanzania
[B]Nigeria
[C]Mozambique
[D]Zimbabwe
Mozambique
14. The Panna-Mukta oil fields are located in which among the following states of India?
[A]Andhra Pradesh
[B]Gujarat
[C]Maharastra
[D]Rajasthan
Maharastra

15. Which among the following state / Union Territory of India has lowest population density as per the provisional data of Census 2011?
[A]Sikkim
[B]Arunachal Pradesh
[C]Lakshadweep
[D]Andaman & Nicobar Islands
Arunachal Pradesh (17)

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