11. The ‘COVID-19 Economic Response Task Force’, unveiled by the Prime Minister of India, is to be headed by which Union minister?
[A] Piyush Goyal
[B] Harsh Vardhan
[C] Nirmala Sitharaman
[D] Rajnath Singh
Show Answer
Correct Answer: C [Nirmala Sitharaman]
Notes:
Prime Minister Narendra Modi during his public address, announced the setting up of a COVID-19 economic response task force.
The task force is to be headed by Finance Minister Nirmala Sitharaman, to measure the economic impact of the pandemic and take appropriate steps. The Finance Minister is set to meet the Ministers of animal husbandry, dairy and fisheries, civil aviation, tourism and MSME, for getting feedback and assessing the economic impact of COVID-19.
12. The Government of India sold its stake in THDC India Ltd and NEEPCO (North Eastern Electric Power Corp) to which Indian public sector undertaking?
[A] NTPC Ltd
[B] Oil and Natural Gas Corporation (ONGC)
[C] Power Grid Corporation of India
[D] Bharat Heavy Electricals Limited
Show Answer
Correct Answer: A [NTPC Ltd]
Notes:
The Indian government has sold its entire 74.49 per cent stake in THDC India Ltd (THDCIL) for Rs 7,500 crore and its 100 per cent in NEEPCO for Rs 4,000 crore to NTPC Ltd through the Department of Investment and Public Asset Management (DIPAM).
By the strategic disinvestment of its shares in THDCIL, NEEPCO and Kamarajar Port, the government has raised Rs 13,883 crore. The total disinvestment figures for the current financial year has reached Rs 48,883 crore, which is lower than the Revised Estimates of Rs 65,000 crore.
13. What is the new limit for investment of Foreign portfolio investors (FPI) in corporate bonds, as per the notification of the Reserve Bank of India?
[A] 10%
[B] 12%
[C] 15%
[D] 17.5%
Show Answer
Correct Answer: C [15%]
Notes:
As per the recent notification of the Reserve Bank of India (RBI), the limit for investment of Foreign portfolio investors (FPI) in corporate bonds is hiked to 15% of outstanding stock for FY2020-21.
FPIs can invest Rs 3.17 lakh crore in Indian corporate bonds, at present. After this hike in limit, they can invest up to Rs 4.29 lakh crore of corporate bonds for the half year April to September 2020, and Rs 5.41 lakh crore for the half year October 2020 to March 2021. The revised limits for FPI investment in Central Government securities (G-secs) and State Development Loans (SDLs) will be notified separately.
14. After the revision in the interest rates on small savings schemes for the first quarter 2020-21, what is the interest rate for Sukanya Samriddhi Account Scheme?
[A] 8.2%
[B] 8.0%
[C] 7.8%
[D] 7.6%
Show Answer
Correct Answer: D [7.6%]
Notes:
The Government of India lowered the interest rates on various small savings schemes for the first quarter of 2020-21.
As per the revision, the interest rate for the flagship Sukanya Samriddhi Account scheme has been reduced to 7.6% against 8.4% earlier. Investments in PPF will earn 7.1% against 7.9%; the five-year National Savings Certificate will earn 6.8% against 7.9% earlier; KVP will earn 6.9% against 7.6% earlier and five-year Senior Citizens Savings Scheme will return 7.6% against 8.6% earlier.
15. As per the recent notification of the Reserve Bank of India, what is the new deadline for exporters to realise their export proceeds for exports made up to July 31?
[A] 9 months
[B] 12 months
[C] 15 months
[D] 18 months
Show Answer
Correct Answer: C [15 months]
Notes:
The Reserve Bank of India recently released some measures to deal with the consequence of the coronavirus pandemic. As per the new export norms, the exporters can take 15 months to realise their export proceeds, for exports made up to July 31 against the earlier 9 months.
RBI also increased the Ways and Means Advances limit for state governments and UTs by 30 % till September 30. It also said that the banks are not required to activate counter-cyclical capital buffers for one more year.
16. Which institution is set to provide emergency loans to small and medium enterprises (MSMEs) named ‘SAFE PLUS’?
[A] Khadi Village Industries Commission (KVIC)
[B] National Bank for Agriculture and Development (NABARD)
[C] Small Industries Development Bank of India (SIDBI)
[D] National Small Industries Corporation Limited (NSIC)
Show Answer
Correct Answer: C [Small Industries Development Bank of India (SIDBI)]
Notes:
The Small Industries Development Bank of India (SIDBI) recently announced that it will provide emergency loans to small and medium enterprises (MSMEs) named ‘SIDBI Assistance to Facilitate Emergency’ -SAFE PLUS.
Working capital of up to Rs 1 Crore will be provided to small and medium enterprises (MSMEs) engaged in manufacturing of medical equipment and products related to Covid-19. The SAFE PLUS collateral-free loans will be disbursed within 48 hours at an interest rate of five per cent. The limit of the loans has been enhanced from 50 lakh rupees to two crore rupees.
17. Former CMD of National Housing Bank, RV Verma has been appointed as Non-Executive Chairman of AU Small Finance Bank. Which is the headquarters of AU Small Finance Bank?
[A] New Delhi
[B] Jaipur
[C] Bengaluru
[D] Kochi
Show Answer
Correct Answer: B [Jaipur]
Notes:
The former Chairman and Managing Director of National Housing Bank, RV Verma has been appointed as Non-Executive Chairman of AU Small Finance Bank for a period of one year. He has been an independent director of the SFB from 2018.
The AU Small Finance Bank is headquartered at Jaipur, Rajasthan. RBI has also approved the re-appointment of Sanjay Agarwal as Managing Director & CEO of the Small Finance Bank.
18. The Central Bank of which country has become one of the investors with more than one per cent stake in Housing Development Finance Corporation Ltd (HDFC)?
[A] Japan
[B] Singapore
[C] China
[D] Malaysia
Show Answer
Correct Answer: C [China]
Notes:
The Central Bank of China, the ‘People’s Bank of China (PBoC)’ has joined the group of investors with more than one per cent stake in Housing Development Finance Corporation Ltd (HDFC).
People’s Bank of China now holds 1.01 per cent in HDFC, which is the largest standalone housing finance company of India. The Central Bank has been included in the group of 8 foreign portfolio investors (FPIs), who own more than one per cent stake in HDFC.
19. India’s leading automobile manufacturer TVS Motor Company Ltd has acquired which popular bike manufacturer?
[A] Triumph
[B] Norton
[C] Jawa
[D] Victory
Show Answer
Correct Answer: B [Norton]
Notes:
India’s leading automobile manufacturer TVS Motor Company Ltd has recently acquired the 122-year-old British bike manufacturer Norton Motorcycles (UK) Ltd.
As per the recent asset purchase agreement signed between the overseas subsidiary of TVS in Singapore and the Norton Motorcycles, the brand Norton along with the associated brands were acquired.
20. Who has been appointed as a Director on the Central Board of Reserve Bank of India, who also took over as the Economic Affairs Secretary recently?
[A] Tarun Bajaj
[B] Preeti Sudan
[C] Arvind Kumar Sharma
[D] Rajesh Bhushan
Show Answer
Correct Answer: A [Tarun Bajaj]
Notes:
As per the recent notification of the Reserve Bank of India, the government has appointed Economic Affairs Secretary Tarun Bajaj as a Director on the central board of Reserve Bank of India (RBI), with effect from May 5 until further orders.
Tarun Bajaj is set to replace the position held by Atanu Chakraborty, who superannuated on April 30. Tarun Bajaj is a 1988 batch IAS officer and has held several crucial positions including Additional Secretary in Prime Minister’s Office and Director in the Department of Financial Services.
