Business, Economy & Banking Current Affairs MCQs
11. Which company announced to acquire the Kerala-based Nirapara brand?
[A] Tata Consumer Products
[B] Wipro Consumer Care
[C] Godrej Consumer Care
[D] Dabur
Show Answer
Correct Answer: B [Wipro Consumer Care]
Notes:
Wipro Consumer Care and Lighting has signed an agreement to acquire Kerala-based Nirapara brand, which has a significant share in spice mixes, and rice powder.
Nirapara reported around Rs 100 crore in revenue in FY22. This acquisition will help Wipro Consumer Care to enter the packaged snacks, spices, and ready-to-cook food segments.
12. An empowered committee headed by NITI Aayog CEO has approved Rs 357 crore for which company under PLI scheme?
[A] Foxconn India
[B] Samsung India
[C] Nokia India
[D] Qualcomm
Show Answer
Correct Answer: A [Foxconn India]
Notes:
An empowered committee headed by the Chief executive officer (CEO), NITI Aayog, has approved a production-linked incentive (PLI) scheme of over Rs 400 crore for Foxconn India and Padget Electronics for mobile phone manufacturing.
Foxconn India would receive an incentive of Rs 357.17 crore for the period between August 1, 2021, and March 31, 2022. It is based on its incremental investments and sales figures.
13. As per Finance Ministry’s latest data, what is India’s gross domestic product growth in the first half of 2022-23?
[A] 7.7 %
[B] 8.7 %
[C] 9.7 %
[D] 10.7 %
Show Answer
Correct Answer: C [9.7 %]
Notes:
As per the Finance Ministry’s latest data, India’s gross domestic product growth in the first half of 2022-23 is averaged to 9.7 %.
This was announced in the Ministry’s mid-year expenditure and revenue statement. The ministry said it could not present the medium-term expenditure framework (MTEF) as mandated by the Fiscal Responsibility and Budget Management Act, as the global macro-economic situation disrupted the government’s projections.
14. As per the Centre for Economics and Business Research (CEBR), India will become a USD 10-trillion economy by which year?
[A] 2030
[B] 2035
[C] 2040
[D] 2050
Show Answer
Correct Answer: B [2035]
Notes:
Centre for Economics and Business Research (CEBR) announced that India will become the third economic superpower by 2037 and a USD 10-trillion economy by 2035.
This growth trajectory will see India rise from fifth place on the World Economic League Table in 2022 to third in the global rankings by 2037. The annual rate of India’s GDP growth is expected to average 6.4% in the next five years, average 6.5% in the subsequent nine years.
15. ‘Financial Stability report (FSR)’ is a flagship publication of which institution?
[A] NITI Aayog
[B] International Monetary Fund
[C] Reserve Bank of India
[D] Bombay Stock Exchange
Show Answer
Correct Answer: C [Reserve Bank of India]
Notes:
Reserve Bank of India (RBI) releases the financial stability report (FSR) twice a year in every June and December.
As per the recent report, the gross non-performing asset (GNPA) ratio of scheduled commercial banks (SCBs) fell to a seven-year low of 5.0 per cent. The net non-performing assets (NNPA) have dropped to ten-year low of 1.3 per cent in September 2022.
16. Which institution launched its Medium-term Strategy Framework named ‘Utkarsh 2.0’?
[A] ISRO
[B] RBI
[C] DRDO
[D] NITI Aayog
Show Answer
Correct Answer: B [RBI]
Notes:
The Reserve Bank of India’s Medium-term Strategy Framework for the period 2023-2025 named ‘Utkarsh 2.0’ was launched by RBI Governor Shaktikanta Das.
The first strategy framework (Utkarsh 2022) covering the period 2019-2022 was launched in July 2019. Utkarsh 2.0 retains the six Vision statements as well as Core Purpose, Values, and Mission statement of the 2022 version.
17. Which institution developed the Bharat Interface for Money (BHIM) app?
[A] RBI
[B] NPCI
[C] SEBI
[D] NASSCOM
Show Answer
Correct Answer: B [NPCI]
Notes:
Bharat Interface for Money (BHIM) was launched on 30 December 2016 in India. The payment application was indigenously developed by National Payment Corporation of India (NPCI). ·
The app lets users make simple and quick transactions using Unified Payments Interface (UPI). In November 2022, National Payments Corporation of India (NPCI) announced the launch of BHIM App open source license model. Recently, the sixth anniversary of BHIM app was celebrated.
18. Ajay Kumar Srivastava has been appointed as the Managing Director (MD) and chief executive officer (CEO) of which bank?
[A] Punjab National Bank
[B] State Bank of India
[C] Indian Overseas Bank
[D] Indian Bank
Show Answer
Correct Answer: C [Indian Overseas Bank]
Notes:
The Centre has appointed Ajay Kumar Srivastava as the Managing Director (MD) and Chief Executive Officer (CEO) of Indian Overseas Bank.
Partha Pratim Sengupta has demitted office as MD & CEO of the bank after his superannuation. Sanjay Vinayak Mudaliyar, Chief General Manager at Bank of Baroda is appointed as executive director in IOB. As of 30 September 2022, the Government of India held 96.38% in IOB.
19. What is the total volume of Unified Payments Interface (UPI) transactions in December 2022?
[A] 282 lakh
[B] 282 crore
[C] 782 lakh
[D] 782 crore
Show Answer
Correct Answer: D [782 crore]
Notes:
In December, 782 crore transactions in volume terms were done on the Unified Payments Interface (UPI) platform, as per the Department of Financial Services.
UPI payments have touched record high of ₹12.82 lakh crore in December. The platform was launched in 2016. In November, as many as 730 crore transactions worth ₹11.90 lakh crore took place via UPI.
20. In which year, the decision of Demonetisation was announced in India?
[A] 2014
[B] 2016
[C] 2017
[D] 2018
Show Answer
Correct Answer: B [2016]
Notes:
A Constitution Bench of the Supreme Court has upheld by a 4-1 majority the Centre’s 2016 decision to withdraw from circulation currency notes of Rs 500 and Rs 1,000 denominations.
The majority, comprising Justices S Abdul Nazeer, B R Gavai, A S Bopanna, V Ramasubramanian, held that the Centre’s notification was valid and satisfied the test of proportionality. Justice BV Nagarathna in her dissenting view held that though demonetisation was well-intentioned and well thought of, it has to be declared unlawful on legal grounds.
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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