11. The Insolvency and Bankruptcy Code came into force in which year?
[A] 2014
[B] 2016
[C] 2018
[D] 2020
Show Answer
Correct Answer: B [2016]
Notes:
The Insolvency and Bankruptcy Code is a unified bankruptcy law of India which consolidated the existing framework into a single law for insolvency and bankruptcy. It came into effect in 2016.
Recently, the Lok Sabha passed the Insolvency and Bankruptcy Code (Second Amendment) Bill, which seeks to protect the successful bidders of insolvent companies from risks of criminal proceedings, for offences committed by previous promoters of the companies.
12. The validity of authorization issued to which company was extended by the Reserve Bank of India till 31 March 2021, to setup, own and operate the White Label ATMs?
[A] Hitachi
[B]
State ATM
[C] Tata Communications Payment Solutions
[D] Vakrangee
Show Answer
Correct Answer: D [Vakrangee]
Notes:
The Reserve Bank of India (RBI) has extended the validity of authorization issued to IT service management company Vakrangee, to setup, own and operate the White Label ATMs (WLA) in India.
The validity of authorization has been extended till 31 March 2021. RBI has assigned a target of minimum 1,000 ATMS to be deployed by Vakrangee for three years starting from 2020, with the stipulated ratio in Metro & Urban, Semi-Urban and Rural regions.
13. Which Indian private sector bank has recently rolled out banking services on WhatsApp amidst the nation-wide lock-down?
[A] HDFC Bank
[B] ICICI Bank
[C] Axis Bank
[D] Yes Bank
Show Answer
Correct Answer: B [ICICI Bank]
Notes:
India’s leading private lender ICICI Bank recently announced the launch of banking services on WhatsApp amid the nation-wide lockdown resulting from the coronavirus pandemic.
The customers have to save ICICI Bank’s verified WhatsApp profile number in their contact. Using the WhatsApp banking services, the customers are provided with several banking services including checking their savings account balance, last transactions, credit card limit and blocking/unblocking credit and debit card.
14. 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.
15. National Pension System (NPS) subscribers are to be allowed partial withdrawal for covering expenses for COVID-19 treatment. Which organisation manages NPS?
[A] Insurance Regulatory and Development Authority (IRDAI)
[B] Pension Fund Regulatory and Development Authority of India (PFRDA)
[C] Life Insurance Corporation of India (LIC)
[D] Securities and Exchange Board of India (SEBI)
Show Answer
Correct Answer: B [Pension Fund Regulatory and Development Authority of India (PFRDA)]
Notes:
The Pension Fund Regulatory and Development Authority of India (PFRDA) recently announced that the National Pension System (NPS) subscribers will be allowed partial withdrawal for covering expenses related to COVID-19 treatment.
It also announced that COVID-19 would be declared as a critical illness which is life threatening in nature. PFRDA also announced that there is no provision for partial withdrawal for Atal Pension Yojana (APY) customers at present. Both NPS and APY are managed and run by PFRDA.
16. 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.
17. Business confidence index is released in a quarterly survey conducted by which Indian institution?
[A] NITI Aayog
[B] National Council for Applied Economic Research
[C] Observer Research Foundation
[D] Centre for Public Policy Research
Show Answer
Correct Answer: B [National Council for Applied Economic Research]
Notes:
India’s leading economic think tank, National Council for Applied Economic Research (NCAER) conducts a quarterly survey and releases Business confidence index (N-BCI).
NCAER has recently released its recent quarterly business confidence index, conducted in March. As per the survey, the index fell to 77.3 which is the lowest since 1998 Asian Financial crisis. In the third quarter, the index was 111.2.
18. What is the amount of financial assistance approved by the Union Cabinet, for ‘India COVID-19 Emergency Response and Health System Preparedness Package’?
[A] Rs. 10000 Cr
[B] Rs. 15000 Cr
[C] Rs. 20000 Cr
[D] Rs. 30000 Cr
Show Answer
Correct Answer: B [Rs. 15000 Cr]
Notes:
The Union Cabinet recently approved ₹15,000 crore for ‘India COVID-19 Emergency Response and Health System Preparedness Package’.
An amount of ₹7,774 crore has been kept as provision for immediate COVID-19 emergency response. The package is launched with an aim of developing diagnostics and COVID-dedicated treatment facilities, thereby slowing down the spread of coronavirus. The initiatives would be implemented under the overall umbrella of the Ministry of Health and Family Welfare.
19. What is the modified borrowing limit of states as a percentage of Gross state domestic product (GSDP) for the year 2020-21?
[A] 3.5%
[B] 4%
[C] 5%
[D] 7.5%
Show Answer
Correct Answer: C [5%]
Notes:
As a part of the economic stimulus package, the Centre has increased the borrowing limit of states to 5% of Gross state domestic product (GSDP) in 2020-21.
The present limit of the state’s borrowing is 3% of their corresponding GSDP. This move is expected to make an additional Rs 4.28 lakh crore available to the states. But, the additional borrowing beyond the 3.5% of GDSP limit shall be linked to specific reforms carried out by the states, including ‘One Nation, One Ration card,’ ease of doing business and power distribution etc.
20. Which bank has launched an overdraft (OD) facility named ‘Insta FlexiCash’, for its salaried account customers?
[A] State Bank of India
[B] IndusInd Bank
[C] ICICI Bank
[D] HDFC Bank
Show Answer
Correct Answer: C [ICICI Bank]
Notes:
Leading private bank ICICI Bank has launched an overdraft (OD) facility named ‘Insta FlexiCash’, for its salaried account customers who are facing a cash crunch.
The specified customers can initiate this facility by applying online using the bank’s Internet banking platform and can avail short-term instant credit within 48 hours. The product has been launched to help the bank’s Salary Account customers from missing their Equated Monthly Instalments (EMIs) or cheque bounces due to insufficient funds.
