1. Which country was the largest source of foreign direct investment (FDI) in India during the first half of the financial year 2019-2020?
[A] UAE
[B] Switzerland
[C] Singapore
[D] USA
Show Answer
Correct Answer: C [Singapore]
Notes:
According to the recently released Government data, Singapore remains the largest source of foreign direct investment (FDI) in India during the first half of the financial year with investments amounting to $8 billion. The second largest source was Mauritius with $6.36 billion worth investments followed by the United States, the Netherlands and Japan. India remains as one of the world’s favourite FDI destinations during this year. FDI limits in coal mining and contract manufacturing were recently relaxed by the Government.
2. Which public sector bank has approved a financial assistance to the Women Entrepreneurs Welfare Association (WEWA), Tamil Nadu?
[A] State Bank of India
[B] Canara Bank
[C] Indian Bank
[D] Bank of India
Show Answer
Correct Answer: C [Indian Bank]
Notes:
Tamil Nadu based leading Public sector bank, Indian Bank recently signed an MoU with the Women Entrepreneurs Welfare Association (WEWA), Tamil Nadu. By this partnership, Indian bank will provide financial assistance and training to the members of the association for starting their business.
The entrepreneurs will also be provided credit facilities with discounted rates. The members of WEWA will be trained in INDSETIs (Indian Bank Self-Employment Training Institutes) of Indian Bank society.
3. Which is the first Urban Cooperative Bank (UCB), that is approved to convert into a Small Finance Bank?
[A] Bharat Cooperative Bank
[B] Shivalik Mercantile Cooperative Bank
[C] Punjab And Maharashtra Cooperative Bank
[D] Bombay Mercantile Cooperative Bank
Show Answer
Correct Answer: B [Shivalik Mercantile Cooperative Bank]
Notes:
The Reserve Bank of India has recently granted ‘in-principle’ approval to Shivalik Mercantile Cooperative Bank, to convert into a Small Finance Bank (SFB). It is the first Urban Cooperative Bank (UCB) to be granted such permission after the announcement of RBI in September 2018, about voluntary conversion of UCBs into Small Finance Banks.
The bank should comply with the requirements of an SFB such as minimum net worth and Capital to risk ratio, as stipulated by the RBI within 18 months of the in-principle approval.
4. Amazon recently partnered with which leading retail Group of India, to deepen its market presence?
[A] Future Group
[B] D-Mart
[C] Mahindra Retail
[D] Big Basket
Show Answer
Correct Answer: A [Future Group]
Notes:
E-Commerce Giant Amazon recently partnered with the leading retailer, Future Group. By this partnership the Future Group would be allowed to access the online platform of Amazon and Amazon India will be designated as the authorised online store of the Future Retail Ltd (FRL) stores.
This agreement would also deepen the market presence of Amazon in India, while increasing the reach of the Future Group’s products. Big Bazaar is a famous subsidiary of Future Group.
5. Which city is host to the annual World Economic Forum?
[A] Geneva
[B] Davos
[C] New York
[D] Paris
Show Answer
Correct Answer: B [ Davos ]
Notes:
The World Economic Forum, held annually at Davos, is a meeting in which world leaders discuss economic matters. This year’s summit will take place on January 21- 24.
6. What is India’s GDP growth rate for the FY20, as estimated by the World Bank?
[A] 6%
[B] 5.8%
[C] 5.6%
[D] 5.4%
Show Answer
Correct Answer: B [5.8%]
Notes:
The World Bank has recently released its ‘January 2020 Global Economic Prospects report’. The GDP growth of India for FY20 is estimated to be 5%. The GDP growth for the year 2021-22 is also lowered to 5.8% in the report.
The credit instability of the weak Non-Banking Finance Companies (NBFCs) is cited to be the reason for the downgrade. Recently the Reserve Bank of India and the Central Statistical Office of the country also lowered the growth rate to 5% for this fiscal year.
7. HDFC has completed the acquisition of majority stake in which private Insurance company recently?
[A] Star Health and Allied insurance
[B] Apollo Munich Health Insurance
[C] Bajaj Allianz General Insurance
[D] IFFCO Tokio General Insurance
Show Answer
Correct Answer: B [Apollo Munich Health Insurance ]
Notes:
HDFC and its subsidiary HDFC ERGO has got approvals the Competition Commission of India (CCI) , the Reserve Bank of India (RBI) and the Insurance Regulatory and Development Authority of India (IRDAI) for acquiring a majority stake in Apollo Munich. HDFC acquired 50.80 % stake of Apollo Hospitals Group in Apollo Munich for ₹1485 crore
It was also announced that after the acquisition, Apollo Munich Health Insurance Co Ltd has been renamed as HDFC ERGO Health Insurance Ltd and will operate as a subsidiary of HDFC.
8. Which major technology firm recently became the fourth US company to touch $1 trillion valuation?
[A] IBM
[B] Samsung
[C] Alphabet
[D] Facebook
Show Answer
Correct Answer: C [Alphabet]
Notes:
The parent company of Google, Alphabet led by Indian-American Sundar Pichai, touched the milestone of $1 trillion valuation and joined the elite US companies in the list, which includes Apple, Microsoft and Amazon. Apple was the first US company to touch the $1 trillion mark, when it achieved the feat in 2018.
During the month of December last year, the founders of Alphabet Larry Page and Sergey Brin stepped down from their leadership roles and announced the then CEO of Google Sundar Pichai as the CEO of both Google and Alphabet.
9. The Reserve Bank of India recently cancelled the authorisation certificate of which famous Payment System Operator?
[A] Tata Communications Payment Solutions
[B] Vodafone m-pesa Limited
[C] Infibeam Avenues Limited
[D] Muthoot Finance Ltd.
Show Answer
Correct Answer: B [Vodafone m-pesa Limited]
Notes:
The Reserve Bank of India (RBI) recently cancelled the Certificate of Authorisation (CoA) of Vodafone m-pesa after it voluntarily surrendered its authorisation. RBI authorises the Payment System Operator to set up and operate in India under the Payment and Settlement Systems Act, 2007.
After the closure of Aditya Birla Idea Payments Bank Ltd (ABIPBL), with which Vodafone m-pesa was merged, the company decided to apply for voluntary surrender of authorisation. After the cancellation, the company cannot transact business of issuance and operation of Prepaid payment Instruments but the customers or merchants with a valid claim on the company as a PSO, can approach it till September 30, 2022.
10. Khadi wrist watches have been recently launched by the Khadi and Village Industries Commission, in association with which company?
[A] Fossil
[B] Titan
[C] Timex
[D] Casio
Show Answer
Correct Answer: B [Titan]
Notes:
The Union minister Nitin Gadkari recently launched the unique Khadi wrist watches, which have been manufactured as part of a joint initiative by the Khadi and Village Industries Commission and leading Indian consumer goods firm, Titan. The watches have been launched on the death anniversary of Mahatma Gandhi, also features the iconic charka.
The Minister also suggested to showcase the watches in international airports to attract buyers. As per the announcement from KVIC, 1 square meter of Khadi fabric is used for manufacturing 10 watches and 1,000 such watches are proposed to be sold.
