Business, Economy & Banking Current Affairs MCQs
11. Which rating agency through its Global Economic Outlook (GEO) report, estimated India’s FY21 growth at -5%?
[A] CRISIL
[B] Fitch Ratings
[C] Ind-Ra
[D] Moody’s
Show Answer
Correct Answer: B [Fitch Ratings]
Notes:
The rating agency Fitch Ratings has made further slashed world GDP forecasts in its latest Global Economic Outlook (GEO).
The biggest estimate cut was for India, where the rating agency forecasts a contract of growth by 5%, which means -5% growth in 2020-21. Earlier, Fitch had estimated India’s growth to be 0.8% for FY21. The global GDP is also estimated to fall by 4.6% in 2020.
12. What is the GDP growth rate of India in the next fiscal year 2020-21, as predicted by the Fitch Ratings?
[A] 6.5%
[B] 7.5%
[C] 8.5%
[D] 9.5%
Show Answer
Correct Answer: D [9.5%]
Notes:
Global ratings agency Fitch Ratings has estimated that India’s economy would bounce back with a steep growth rate of 9.5 per cent in the next fiscal year.
Earlier, Fitch ratings had forecasted that the GDP growth of India would contract at 5 percent in the ongoing fiscal year starting April 2020. It has also highlighted that 9.5 % growth is possible only if the country avoids further deterioration in financial sector health.
13. Which Indian stock exchange has become the world’s 10th largest exchange with market capitalisation of $1.7 trillion?
[A] National Stock Exchange
[B] Bombay Stock Exchange
[C] Calcutta Stock Exchange
[D] Madras Stock Exchange
Show Answer
Correct Answer: B [Bombay Stock Exchange]
Notes:
India’s first listed stock exchange Bombay Stock Exchange (BSE) has featured among the world’s 10 largest exchanges in terms of cumulative market capitalisation of all companies listed on its platform.
As per the latest data from the World Federation of Exchanges, BSE stands at the tenth place in the list, with a market capitalisation of USD 1.7 trillion. The list is topped by the New York Stock Exchange (NYSE) with a valuation of USD 19.3 trillion. It is followed by Nasdaq with a market capitalisation of USD 13.8 trillion.
14. The Income Tax Department is conducting an e-campaign on voluntary Income Tax compliance for which financial year?
[A] FY 2018-19
[B] FY 2019-20
[C] FY 2020-21
[D] FY 2021-22
Show Answer
Correct Answer: A [FY 2018-19]
Notes:
The Income Tax Department has launched an e-campaign on voluntary compliance of Income Tax for the convenience of taxpayers from July 20.
The aim of the 11-day campaign is to assist taxpayers especially the Income Tax assessees for FY 2018-19, to validate their financial transaction information online, by using the information available with the I-T Department. This will help tax-payers from redundant notice, scrutiny and penalty.
15. Best Price, that was acquired by Flipkart, is the wholesale business of which company?
[A] Snapdeal
[B] Reliance
[C] Walmart
[D] Indiamart
Show Answer
Correct Answer: C [Walmart]
Notes:
E-Commerce Giant Flipkart has announced that it will acquire parent Walmart’s wholesale business, ‘Best Price’.
The loss-ridden cash-and-carry business of Walmart in India is the last part of Walmart to be acquired by Flipkart marking a complete consolidation. This acquisition is expected to help Flipkart to expand its business-to-business vertical.
16. Which financial institution has launched the ‘MSME Saksham’ portal, in association with TransUnion CIBIL?
[A] SIDBI
[B] RBI
[C] NABARD
[D] NHB
Show Answer
Correct Answer: A [SIDBI]
Notes:
The Small Industries Development Bank of India (SIDBI) has launched a knowledge portal named ‘MSME Saksham’, in association with TransUnion CIBIL.
The comprehensive financial education and knowledge platform will provide financial awareness to the micro, small and medium enterprises (MSME) and assist them in getting quick access to formal and affordable credit facilities.
17. European Investment Bank is to invest 650 million Euros in the construction of the metro line of which Indian city?
[A] Kolkata
[B] Kanpur
[C] Hyderabad
[D] Bengaluru
Show Answer
Correct Answer: B [Kanpur]
Notes:
The European Investment Bank (EIB) announced that it is to invest 650 million Euros in the construction of Kanpur’s first metro service.
The agreement regarding the investment has been recently signed. This is the second metro rail project supported by the EIB in the state of Uttar Pradesh. It had earlier financed the Lucknow Metro rail system.
18. Who is the head of the 3-member panel constituted by Government of India for assessment of relief to borrowers?
[A] Urjit Patel
[B] Raghuram Rajan
[C] Rajiv Mehrishi
[D] Usha Thorat
Show Answer
Correct Answer: C [Rajiv Mehrishi]
Notes:
The Government of India has set up a Panel for assessment of relief to borrowers.
It is a 3-member panel headed by Rajiv Mehrishi, who is the former Comptroller and Auditor General of India. The panel will measure the impact of the pandemic related restrictions on Indian economy and also study the viability of waiving interest on interest on the pandemic-related moratorium.
19. Which organization initiated live trading and other operations successfully from its Disaster Recovery Site?
[A] State Bank of India
[B] National Stock Exchange
[C] Bombay Stock Exchange
[D] SEBI
Show Answer
Correct Answer: B [National Stock Exchange]
Notes:
The National Stock Exchange of India Ltd (NSE) has completed its live trading and other business operations from a Disaster Recovery (DR) site.
As per a release from NSE, all commercial operations of the exchange were executed from the DR site which is located in another city, which is a replica of the main production site located in Mumbai. After successful testing of the DR site, the operations were reverted to the original site.
20. Recently, the travel business group Cox & Kings has been classified as wilful defaulter by which bank?
[A] ICICI Bank
[B] State Bank of India
[C] Yes Bank
[D] HDFC Bank
Show Answer
Correct Answer: C [Yes Bank]
Notes:
Recently, Yes Bank has classified Cox & Kings group as wilful defaulters. Also, the Bank has classified Cox & Kings Financial Services, and a related entity named Ezeego One Travel and Tours as wilful defaulters.
Yes Bank has an outstanding exposure of Rs.519.44 crore to Cox & Kings, Rs.944.24 crore to Ezeego One Travel and Rs.398.37 crore to Cox & Kings Financial Services.
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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