Business, Economy & Banking Current Affairs MCQs
11. Which billionaire became the world’s second-richest person in November 2020?
[A] Bill Gates
[B] Elon Musk
[C] Jeff Bezos
[D] Warren Buffet
Show Answer
Correct Answer: B [Elon Musk]
Notes:
The 49-year-old billionaire entrepreneur Elon Musk has become the world’s second-richest person, after passing Bill Gates.
The CEO of SpaceX recorded a net worth of USD 127.9 billion, by adding USD 100.3 billion to his net worth this year, which is the highest addition by anyone on the Bloomberg Billionaires Index. His increase in wealth is largely driven by Tesla, whose market value is approaching USD 500 billion.
12. Which Indian bank co-launched a Contactless debit card along with Japan’s JCB International?
[A] Punjab National Bank
[B] State Bank of India
[C] HDFC Bank
[D] Axis Bank
Show Answer
Correct Answer: B [State Bank of India]
Notes:
State Bank of India has partnered with National Payments Corporation of India (NPCI) and Japan’s JCB International Co to launch new ‘SBI RuPay JCB Platinum Contactless Debit Card’.
This card has a dual interface feature, under which customers can use it for both contact and contactless transactions, both in the domestic market as well as overseas. The card has been launched on the RuPay network.
13. The Asian Development Bank (ADB) is to finance USD 50 million policy-based loan for Finance Management in which state?
[A] Maharashtra
[B] West Bengal
[C] Andhra Pradesh
[D] Tamil Nadu
Show Answer
Correct Answer: B [West Bengal]
Notes:
Manila-based Asian Development Bank has signed a USD 50-million policy-based loan for the West Bengal Public Finance Management Investment Programme.
The loan aims to improve financial management and operational efficiencies of the state. A centre for fiscal policy and public finance will be established along with a web-based grievance redressal system for transport corporations and urban local bodies.
14. What is the limit of FDI in Defence sector, under automatic route?
[A] 26%
[B] 49%
[C] 74%
[D] 100%
Show Answer
Correct Answer: C [74%]
Notes:
The Finance Ministry has now permitted foreign direct investment (FDI) in the Defence sector up to 74 per cent under the automatic route.
The Ministry has notified the changes required to FEMA (Non-Debt Instruments) rules regarding this announcement. In September, the Commerce and Industry Ministry had raised the FDI limit for the Defence sector through the automatic route to 74 per cent from 49 per cent.
15. What is the theme for Second Cohort under the RBI’s Regulatory Sandbox (RS)?
[A] Financial Inclusion
[B] Fin Tech
[C] Aadhaar Enabled Payment System
[D] Cross Border Payments
Show Answer
Correct Answer: D [Cross Border Payments]
Notes:
The Reserve Bank of India has recently announced opening of Second Cohort under the Regulatory Sandbox (RS) with ‘Cross Border Payments,’ as its theme.
The Test Phase under the First Cohort on “Retail Payment” has already commenced. RBI has also stated that “MSME Lending” would be the theme for the Third Cohort. A regulatory sandbox (RS) refers to live testing of products or services in a test regulatory environment.
16. As per the Corporate Affairs Ministry, Companies (Auditor’s Report) Order, 2020 would come into effect from which date?
[A] January 1, 2021
[B] April 1, 2021
[C] June 1, 2021
[D] August 1, 2021
Show Answer
Correct Answer: B [April 1, 2021]
Notes:
According to a notification issued by the Ministry of Corporate Affairs (MCA), the Companies (Auditor’s Report) Order, 2020 would come into effect from the financial years commencing on or after April 1, 2021.
The CARO 2020, is the new format of the Companies Order, which requires the companies to comply with stricter disclosure requirements on various issues. This aims to promote transparency and due diligence in the financial affairs of the companies.
17. What is the new limit of Foreign Direct Investment in the DTH service, as of December 2020?
[A] 20%
[B] 49%
[C] 74%
[D] 100%
Show Answer
Correct Answer: D [100%]
Notes:
The Union Cabinet has recently approved 100 per cent foreign direct investment (FDI) in Direct-to-Home (DTH) broadcasting services.
The Cabinet also approved revised guidelines for DTH services, similar to those of Commerce Ministry and increased the licence period to 20 years, from the present scenario of 10 years.
18. What is the expansion of ‘IUC’, which was recently seen in the news recently?
[A] Internet usage charges
[B] Intermediate usage charges
[C] Interconnect usage charges
[D] Interconnect utility charges
Show Answer
Correct Answer: C [Interconnect usage charges]
Notes:
As per the Telecom Regulatory Authority of India (TRAI), the Interconnect usage charges (IUC) has been made zero from January 1, 2021.
IUC is the charge paid by a telecom company, for every call made from its network to different service providers. Prior to this move, the telecom company has been paying 6 paise per minute as the IUC.
19. Due to sudden surge in price of local rice, which country has started to import rice from India, after a decade?
[A] USA
[B] Canada
[C] Japan
[D] Vietnam
Show Answer
Correct Answer: D [Vietnam]
Notes:
The world’s 3rd largest rice exporter – Vietnam has started buying the grain from India, due to sudden surge in price of local rice.
The price rise of the grain has been the highest in 9 years in Vietnam. It is said that Indian rice is attractive in price and the huge price difference is making exports from India possible.
20. Which Indian IT giant has surpassed Accenture to become the world’s most valued IT services company?
[A] HCL
[B] TCS
[C] Infosys
[D] Wipro
Show Answer
Correct Answer: B [TCS]
Notes:
Indian IT major Tata Consultancy Services (TCS) has surpassed Accenture, to become the world’s most valued IT services company.
The Market Capitalization of TCS surged to USD 169.9 billion recently. Tata Consultancy Services (TCS) is also India’s largest software exporter.
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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