Business, Economy & Banking Current Affairs MCQs
This category comprises 50 random questions from the total 307 Multiple Choice Questions (MCQs) inBusiness, Economy & Banking Current Affairs category published in gktoday from 1 January, 2019 till May 30, 2020.
1. What aspect of agriculture is focused upon by Krishi Karman Award?
[A] Supply
[B] Sales
[C] Production
[D] Water Management
Show Answer
Correct Answer: C [Production]
Notes:
The Prime Minister is to visit Karnataka on January 2nd and 3rd. He will confer Krishi Karman Award to 21 states that have recorded good agriculture production in various categories during the previous crop seasons.
2. Which company has recently partnered with the Union Ministry of Housing and Urban Affairs for the implementation of DAY-NULM scheme?
[A] Amazon
[B] Google
[C] Flipkart
[D] Microsoft
Show Answer
Correct Answer: C [Flipkart]
Notes:
A Memorandum of Understanding (MoU) was recently signed between Flipkart and the Union Ministry of Housing and Urban Affairs for the implementation of Deendayal Antyodaya Yojana — National Urban Livelihoods Mission (DAY-NULM). Under the partnership, Flipkart will join hands with the state missions of DAY-NULM to implement its flagship ‘Samarth’ programme and provide market access to the local weavers, craftsmen and small businessmen.
3. The Reserve Bank of India has recently revised the ‘Supervisory Action Framework’ of which category of banks?
[A] Public Sector Banks
[B] Private Sector Banks
[C] Foreign Banks
[D] Urban Cooperative Banks
Show Answer
Correct Answer: D [Urban Cooperative Banks]
Notes:
India’s Central bank, the Reserve Bank of India recently released various stipulations for the Urban Cooperative Banks (UCB). A UCB shall be placed in the Supervisory Action Framework upon certain conditions announced by the RBI, which include Net NPA exceeding 6% and CRAR ratio falling below 9%. Depending on the financial stress, the lending powers of the UCBs may also be cut short.
The Reserve Bank has made this announcement at the backdrop of the Punjab and Maharashtra Cooperative Bank scam. The new norms would provide faster resolution to the bad assets of UCBs.
4. What will the GDP growth rate of India for FY20, as estimated by the State Bank of India’s economic research department?
[A] 5.6%
[B] 5.4%
[C] 4.8%
[D] 4.6%
Show Answer
Correct Answer: D [4.6%]
Notes:
The State Bank of India’s economic research department has lowered its projection for the GDP growth rate of India for FY 20 to 4.6%. Earlier it has projected the GDP rate to be 5%.
The research department also estimated that the GDP of India would be below 6% for two successive years. The CSO also recently estimated the GDP growth of FY20 to be 5%, in lines with the Reserve Bank of India. But the RBI projected 5.9 – 6.3% growth rate for the next fiscal.
5. With which European country, India has signed mobility pact that would allow skilled workers, students and academics from the two countries to live and work in each others’ countries?
[A] England
[B] France
[C] Germany
[D] Italy
Show Answer
Correct Answer: B [ France ]
Notes:
India’s cabinet has recently (January, 2020) approved the mobility pact with France that would allow skilled workers, students and academics from the two countries to live and work in each others’ countries. The agreement was signed between India and France during French President Emmanuel Macron’s visit to India in 2018. France, however, is yet to ratify the pact, awaiting the French parliament’s consent.
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. Which famous international money transfer company recently partnered with Ebixcash to expand its presence in Indian market?
[A] PayPal
PayPal
[B] MoneyGram
[C] Western Union
[D] Transfer Wise
Show Answer
Correct Answer: B [MoneyGram]
Notes:
International money transfer company, MoneyGram and the leading international supplier of software and e-commerce services, EbixCash signed an agreement recently, to expand their business in India.
By this partnership, EbixCash will be the exclusive partner of MoneyGram in India. MoneyGram could reach additional consumers in the rural areas through several distribution outlets of Ebix group. The customers of Ebixcash could also use the MoneyGram platform for money transfer services across several countries.
8. Which company recently announced to offer guidance to 15 tech start-up companies from 5 Indian states?
[A] Google
[B] Microsoft
[C] Amazon
[D] Flipkart
Show Answer
Correct Answer: B [Microsoft]
Notes:
Microsoft has recently announced that it has selected 54 tech start-ups from five states, namely Gujarat, Maharashtra, Rajasthan, Kerala and Telangana. These start-up companies were selected through ‘Emerge-X’ competition.
Among the 54 companies selected, fifteen start-up companies in the order of three from each state will be offered guidance by Microsoft. The start-ups companies selected are also the part of the Tech Major’s initiative to strengthen the start-up ecosystem in states called ‘Highway to a Hundred Unicorns’.
9. What is India’s GDP growth rate for the current fiscal, as estimated by the International Monetary Fund (IMF)?
[A] 5.2 %
[B] 5.0 %
[C] 4.8 %
[D] 4.6 %
Show Answer
Correct Answer: C [4.8 %]
Notes:
The International Monetary Fund (IMF) decreased India’s GDP growth forecast to 4.8 per cent for this fiscal year, which is 1.3 percentage point lesser than its previous estimates.
The IMF also projected that India’s economy will grow by 5.8 per cent next year and 6.5 per cent in 2021-2022. The Global economic growth rate was also lowered by the IMF to be 3.3 % in the current year and 3.4 % in 2022. India’s GDP forecast dip was mainly due to the NBFC crisis and weak demand in rural India. The slowdown in India is said to be the reason for cut in global growth rate.
10. Which Indian was recently named as Chairman of the World Economic Forum’s IT Governors community?
[A] Abidali Neemuchwala
[B] C. Vijayakumar
[C] Rajesh Gopinathan
[D] Rishad Premji
Show Answer
Correct Answer: B [C. Vijayakumar]
Notes:
The Head of the IT Industry at the World Economic Forum, Eric White announced that C. Vijayakumar, the President & CEO of HCL Technologies, would be the chairman of the World Economic Forum’s IT Governors community.
The announcement was made during the 50th annual meeting of WEF in Davos. The IT Governors community of WEF convenes CEOs of the world’s top Information Technology firms for tackling the issues in the field and solving them together. The community, under Vijayakumar will focus on the industry’s concerns including Talent re-skilling, Data governance and Security.
Advertisement
