Business, Economy & Banking Current Affairs MCQs
1. How many digits are in the Legal Entity Identifier (LEI)?
Show Answer
Correct Answer: D [20]
Notes:
Legal Entity Identifier is a unique 20-character global identifier for legal entities taking part in financial transactions.
The SEBI has introduced LEI for issuers that are planning to list or has already listed non-convertible securities, securitized debt instruments and security receipts.
2. Which department launched the ‘Automated Return Scrutiny Module for GST returns’?
[A] CBIC
[B] NASSCOM
[C] NITI Aayog
[D] RBI
Show Answer
Correct Answer: A [CBIC]
Notes:
The Central Board of Indirect Taxes and Customs (CBIC) recently launched the Automated Return Scrutiny Module for GST return.
The newly rolled out module will help officers scrutinize GST returns of Centre Administered Taxpayers based on identified risks and data analytics.
3. Which institution has proposed special rights for Unitholders of REITs and InvITs?
[A] RBI
[B] SEBI
[C] NPCI
[D] NSE
Show Answer
Correct Answer: B [SEBI]
Notes:
Securities Exchange Board of India (SEBI) has proposed the granting of special board nomination rights for unitholders of Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs).
This is expected to strength corporate governance norms. Under the current regulations, no unitholder of these trusts can enjoy superior voting rights.
4. Which Union Ministry implements the Amnesty scheme for traders who have defaulted on their export obligations?
[A] Union MSME Ministry
[B] Union Finance Ministry
[C] Union Commerce and Industry Ministry
[D] Union Corporate Affairs Ministry
Show Answer
Correct Answer: B [Union Finance Ministry]
Notes:
The Union Finance Ministry has implemented an amnesty scheme for traders who have defaulted on their export obligations under the Advance and EPCG (export promotion for capital goods) authorization scheme.
According to the amnesty scheme, EXIM traders who have not fulfilled their export obligations can rectify the situation by paying customs duty and interest, up to a maximum limit of 100%.
5. RBI has urged to exchange Rs.2,000 notes by which date?
[A] June 30
[B] August 31
[C] September 30
[D] December 31
Show Answer
Correct Answer: C [September 30]
Notes:
The Reserve Bank of India (RBI has decided to withdraw Rs.2,000 denominated notes from circulation.
It has urged everyone to exchange these notes by September 30 this year. However, the notes will continue as legal tender. Exchange of Rs 2,000 notes into notes of other denominations can be made upto a limit of Rs 20,000.
6. Which institution announced Risk Disclosure Framework for Individual Traders?
[A] SEBI
[B] RBI
[C] NPCI
[D] IRDAI
Show Answer
Correct Answer: A [SEBI]
Notes:
To help investors make better decisions, the Securities and Exchange Board of India (SEBI) has announced a risk disclosure framework for individual traders in the equity Futures & Options (F&O) segment.
Starting from July 1, all stock brokers will be required to display risk disclosures on their websites and inform their clients accordingly.
7. Which bank launched ‘Sarathi platform’ for easy PoS onboarding of merchants?
[A] Yes Bank
[B] Axis Bank
[C] Karur Vysya Bank
[D] HDFC Bank
Show Answer
Correct Answer: B [Axis Bank]
Notes:
Axis Bank launched ‘Sarathi,’ a first-of-its-kind digital onboarding journey for merchants to adopt Electronic Data Capture (EDC) or Point of Sale (PoS).
Sarathi offers merchants a streamlined and hassle-free experience. Sarathi’s features include immediate status updates, eliminating the need for follow-up visits, and the ability to transact on the same day their application is processed.
8. RBI has recently sanctioned the merger of which Co-op banks?
[A] Cosmos Co-op and Maratha Co-op
[B] Saraswat Co-op and Cosmos Co-op
[C] Bharat Co-op and Maratha Co-op
[D] SVC Bank and Maratha Co-op
Show Answer
Correct Answer: A [Cosmos Co-op and Maratha Co-op]
Notes:
The Reserve Bank of India (RBI) has sanctioned the merger of Maratha Co-op Bank with Cosmos Co-op Bank.
The Scheme has been sanctioned in exercise of the powers conferred under Sub-Section (4) of Section 44A read with Section 56 of the Banking Regulation Act, 1949. All branches of Maratha Sahakari Bank will function as branches of The Cosmos Co-operative Bank.
9. Which institution released guidelines for Investor Protection Fund (IPF) and Investor Services Fund (ISF)?
[A] RBI
[B] SEBI
[C] PFRDA
[D] NITI Aayog
Show Answer
Correct Answer: B [SEBI]
Notes:
Capital Market Regulator SEBI- the Securities Exchange Board of India has released guidelines for Investor Protection Fund (IPF) and Investor Services Fund (ISF).
These funds are maintained by stock exchanges and depositories. The new changes aim to strengthen investor protection measures and promote financial literacy and participation in the securities market.
10. Which institution launched the ‘Country Partnership Strategy’ for India?
[A] World Bank
[B] ADB
[C] WEF
[D] IMF
Show Answer
Correct Answer: B [ADB]
Notes:
The Asian Development Bank recently launched a new country partnership strategy (CPS) for India.
During 2023–2027, ADB operations in India will focus on accelerating structural transformation and job creation, promoting climate-resilient growth, and deepening social and economic inclusiveness.
The above questions are part of Daily Current Affairs 20 MCQs Series in GKToday's Academy Android Application. This series can be subscribed in the app only for Rs. 750/- for entire year.
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