Business, Economy & Banking Current Affairs MCQs
This category comprises 50 random questions from the total 378 Multiple Choice Questions (MCQs) inBusiness, Economy & Banking Current Affairs category published in gktoday from 1 January, 2019 till July 4, 2020.
11. The Direct Tax ‘Vivad Se Vishwas’ scheme is to cover pending litigation of which tribunal, as per the recent approval by the Union Cabinet?
[A] Debt Recovery Tribunal
[B] National Company Law Tribunal
[C] Telecom Disputes Settlement and Appellate Tribunal
[D] Armed Forces Tribunal
Show Answer
Correct Answer: A [Debt Recovery Tribunal ]
Notes:
The Union Cabinet approved the amendment of the Direct Tax Vivad se Vishwas Bill, 2020, so that it also covers the litigations pending in debt recovery tribunals (DRTs) across the country. The scheme can be availed in search and seizure procedures, where the recovery is up to ₹5 crore.
Vivad se Vishwas Bill, 2020 is aimed at providing resolution of disputed direct taxes. More than ₹9-lakh crore of direct taxes is pending in litigation in India.
12. As of February 2020, which Indian company topped the domestic market capitalisation chart?
[A] Reliance Industries Ltd
[B] Tata Consultancy Services
[C] HDFC Bank
[D] Hindustan Unilever Ltd
Show Answer
Correct Answer: A [Reliance Industries Ltd]
Notes:
Reliance Industries Ltd topped the domestic market capitalisation chart with Rs. 9,42,422.58 crore. It is followed by TCS, HDFC Bank, Hindustan Unilever Ltd and HDFC.
Recently, eight of the 10 most valued Indian companies together added Rs. 1.09 trillion to their market capitalisation. Except HDFC and HDFC bank, the other top-10 companies augmented their market valuation. ICICI Bank, Bharti Airtel and Bajaj Finance in the top-10 list, increased their m-cap higher.
13. India is set to provide grant to which country for up-gradation of plantation schools, for Indian-origin estate workers?
[A] Bangladesh
[B] Sri Lanka
[C] Nepal
[D] Laos
Show Answer
Correct Answer: B [Sri Lanka]
Notes:
India and Sri Lanka have recently signed a memorandum of understanding (MoU) for up-gradation of infrastructure in plantation schools for estate workers of Indian origin.
The MoU was signed in Colombo, under which infrastructure of 9 plantation schools are to be up-graded with the assistance of 30 crore rupees from India. Construction and renovation of several school buildings is also being carried out with Indian grant.
14. Ajay Tyagi is the Chairman of which regulatory body of India?
[A] NABARD
[B] SIDBI
[C] SEBI
[D] NHB
Show Answer
Correct Answer: C [SEBI]
Notes:
Recently, the government has approved a six-month extension to the present Chairman of the Securities and Exchange Board of India (SEBI), Ajay Tyagi.
The Chairman’s term was ending on February 29, which has now been extended to six months from the date or until further orders. Ajay Tyagi replaced the previous Chairman of the Markets Regulator- U K Sinha in 2017.
15. ‘KASH’ is a mutual fund platform of which smartphone manufacturer?
[A] Xiaomi
[B] OPPO
[C] Vivo
[D] Realme
Show Answer
Correct Answer: B [OPPO]
Notes:
China-based consumer electronics firm and smartphone manufacturer OPPO recently announced its mutual fund platform named ‘KASH’.
The ‘OPPO Kash’ service, which will be pre-installed in all OPPO smartphones, will offer users to invest in mutual funds. The platform will also provide free credit reports, personal loans up to two lakh, business loans up to ₹2 crore and screen insurance.
16. Who has been appointed as the new Finance Secretary of India after Rajiv Kumar?
[A] Tuhin Kant Pandey
[B] Ajay Bhushan Pandey
[C] Atanu Chakraborty
[D] Raghuram Rajan
Show Answer
Correct Answer: B [Ajay Bhushan Pandey]
Notes:
The Appointments Committee of the Cabinet has approved the appointment of the current Revenue Secretary Ajay Bhushan Pandey as the new Finance Secretary of India.
Ajay Bhushan Pandey replaces current Finance Secretary Rajiv Kumar, who got superannuated last month. The senior-most bureaucrat among all secretaries in the Finance Ministry is usually designated as the finance secretary. Debasish Panda was recently appointed as the Secretary, Department of financial services.
17. As per the recent amendment to the ‘Foreign direct investment policy on civil aviation’, what is the limit for NRIs to purchase equity stake in Air India?
[A] 26%
[B] 49%
[C] 75%
[D] 100%
Show Answer
Correct Answer: D [100%]
Notes:
The Union Cabinet recently approved an amendment to the ‘Foreign direct investment policy on civil aviation’, which allowed Non-resident
Indians (NRIs) to acquire 100 per cent equity stake in Air India under the automatic route.
Prior to this amendment, only 49 per cent was available for sale to NRIs in Air India. After the proposed strategic disinvestment of 100 per cent of Air India by the government, the company will be completely privately owned.
18. What is the recent growth projection for India by Moody’s Investors Service, as of March 2020?
[A] 5.1%
[B] 5.3%
[C] 5.5%
[D] 5.7%
Show Answer
Correct Answer: B [5.3%]
Notes:
Global rating agency Moody’s Investors Service has revised downward its growth projections for India to 5.3% for 2020 from its earlier projection earlier this month-5.4%.
The latest revision is part of the rating agency’s latest ‘Global Macro Outlook’ report. As per the agency, an extensive crash due to the COVID-19 outbreak will reduce growth to 5% during the same calendar year. The OECD last week lowered India’s growth forecast for 2020-21 to 5.1%
19. Which Indian public sector bank waived the minimum balance requirement for all savings bank (SB) accounts?
[A] Punjab National Bank
[B] State Bank of India
[C] Canara Bank
[D] Union Bank of India
Show Answer
Correct Answer: B [State Bank of India]
Notes:
The Largest lender of India, State Bank of India (SBI) recently announced that the penalty charges for non-maintenance of average monthly balance (AMB) for all its savings bank accounts are to be waived.
At present, the customers shall have to maintain average monthly balance of ₹3000, ₹2000 and ₹1000 in metro, semi urban and rural areas respectively. The Bank levies a penalty of ₹5 to ₹15 plus taxes when average monthly balance is not maintained. Now the penalty has been waived for all its 44.51 Crore savings bank account holders. The bank also lowered interest rate on all SB accounts to 3%.
20. World Bank signed an $80 million loan agreement with which Indian state to increase agricultural productivity in its Gram Panchayats?
[A] Karnataka
[B] Odisha
[C] Himachal Pradesh
[D] Madhya Pradesh
Show Answer
Correct Answer: C [Himachal Pradesh]
Notes:
The Government of India, state government of Himachal Pradesh and the World Bank recently signed an $80 million loan agreement to improve water management practices and increase agricultural productivity in certain Gram Panchayats in Himachal Pradesh.
‘The Integrated project for source sustainability and climate resilient rain-Fed Agriculture’ project in Himachal Pradesh will be implemented in 428 Gram Panchayats, which is expected to benefit over 4 lakh smallholder farmers.
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