Business, Economy & Banking Current Affairs MCQs
This category comprises 50 random questions from the total 378 Multiple Choice Questions (MCQs) inBusiness, Economy & Banking Current Affairs category published in gktoday from 1 January, 2019 till July 4, 2020.
21. Japanese government funding agency JICA has signed Rs 15,295 crore loan agreements with India, for projects in which sector?
[A]
Railway Infrastructure
[B] Rural Development
[C] Disaster Management
[D] Roadway Infrastructure
Show Answer
Correct Answer: A [
Railway Infrastructure]
Notes:
Japanese government funding agency JICA has signed Rs 15,295 crore loan agreements with India, for three mega rail infrastructure projects.
By these agreements, Rs 8,553 crore of the loan is proposed to be used for phase-1 of the Dedicated Freight Corridor, Rs 4,262 crore for Mumbai Trans Harbour Link Project (II) and Rs2,480 crore for the Mumbai Metro Line 3 Project (III).
22. As per the recent report of SBI Research’s Ecowrap, what will be the economic growth of India in 2020-21?
[A] 3.6 per cent
[B] 3.2 per cent
[C] 3.0 per cent
[D] 2.6 per cent
Show Answer
Correct Answer: D [2.6 per cent]
Notes:
According to a recent report by SBI Research’s Ecowrap, the economic growth of India is estimated to fall to 2.6 per cent in 2020-21.
The dip in the growth estimate is mainly due to the lockdown amid the coronavirus pandemic. The organisation also revised its GDP growth of the country for 2019-20 to 4.5 per cent from its earlier estimate of 5 per cent.
23. As per the recent report of S&P Global Ratings, what is the GDP growth rate of India in the financial year 2020-21?
[A] 5.0%
[B] 4.5%
[C] 3.5%
[D] 2.5%
Show Answer
Correct Answer: C [3.5%]
Notes:
As per the recent report of S&P Global Ratings, the GDP growth of India in the financial year 2020-21 is slashed to 3.5% from its earlier forecast of 5.2%.
The main reason for the decrease is said to be the huge dip in output from the covid-19 outbreak for the Asia-Pacific region. It had also forecasted the Asia-Pacific economy will grow at 2.2% in 2020. Earlier Moody’s Investors Service slashed India’s economic growth projection for 2020 to 2.5%.
24. Which payment company has partnered with ICICI Lombard General Insurance to launch the first coronavirus insurance cover for merchants?
[A] BharatPe
[B] PhonePe
[C] Paytm
[D] Mobikwik
Show Answer
Correct Answer: A [BharatPe]
Notes:
Domestic payment company BharatPe has partnered with ICICI Lombard General Insurance to launch the country’s first coronavirus insurance cover for merchants.
The insurance policy which can be purchased from the BharatPe mobile application aims to cover about 40 lakh shop-keepers, who are more prone to the coronavirus infection amid the lock-down. The health cover pays out 100% of the sum insured if they are tested positive for the pandemic for a premium of ₹199 for a ₹25,000 cover for one year.
25. TLTRO route, which was making news recently, is associated with which institution of India?
[A] Securities and Exchange Board of India
[B] National Highway Authority of India
[C] Reserve Bank of India
[D] Airport Authority of India
Show Answer
Correct Answer: C [Reserve Bank of India]
Notes:
The Reserve Bank of India has recently announced that the banks that have availed funds under the first tranche of the targeted long-term repo operations (TLTRO) route, will have to deploy the funds raised within 30 days.
If the banks fail to deploy funds within the stipulated time from the auction, they shall have to pay a penal interest of an additional 200 basis points (bps)in the policy repo rate, for the number of days these funds are not deployed.
26. In context with the recent modification done in the foreign direct investment (FDI) policy of India, the entity of which country should invest only under the government route?
[A] China
[B] Pakistan
[C] Bangladesh
[D] All countries sharing land border with India
Show Answer
Correct Answer: D [All countries sharing land border with India]
Notes:
The Department for Promotion of Industry and Internal Trade (DPIIT) has recently released a press note regarding modification done in the Foreign direct investment (FDI) policy of India, as a part of its effort to restrict take-over of Indian companies amid Covid-19 pandemic.
As per the new changes, an entity of a country which shares a land border with India can invest only under the government route, which means the entities can invest only after receiving the approval of the Indian Government. Prior to this, investments from Pakistan and Bangladesh were only under Government route.
27. After the outbreak of Covid-19, what is the forecast of Fitch solutions on the economic growth of India for the financial year 2020-21?
[A] 3.2%
[B] 2.9%
[C] 2.5%
[D] 1.8 %
Show Answer
Correct Answer: D [1.8 %]
Notes:
Fitch solutions of the American credit ratings agency Fitch ratings has recently slashed the GDP growth forecast of India for the financial year 2020-21 to 1.8 per cent.
India’s growth rate was previously forecasted at 4.6 per cent, as per the Fitch solutions. The reduction in the rate is mainly due to contraction in the private consumption, loss of income and slow delivery of fiscal stimulus by the government.
28. As of April 2020, the investment made by which company is the largest foreign direct investment (FDI), for minority investment in India?
[A] Amazon
[B] Xiaomi
[C] Facebook
[D] Apple
Show Answer
Correct Answer: C [Facebook]
Notes:
Major Technology company Facebook has recently announced an investment of Rs. 43,574 crores in Jio Platforms, a wholly-owned subsidiary of Reliance Industries Limited.
This investment will enable Facebook acquire a 9.9 stake in Jio platforms. This is claimed to be the largest foreign direct investment for minority stake in the country. A partnership agreement was also made among Jio Platforms, Reliance Retail Limited and WhatsApp to boost JioMart platform through WhatsApp and support small businesses on WhatsApp.
29. As per the recent estimate of the India Ratings and Research (Ind-Ra), what would be the expected fiscal deficit, in the case of no stimulus measure from the government?
[A] 3.2%
[B] 3.5%
[C] 3.8%
[D]
4.4%
Show Answer
Correct Answer: D [
4.4%]
Notes:
Domestic Credit rating agency India Ratings and Research (Ind-Ra) has further decreased the GDP growth rate of India to 1.9% for the current fiscal. It had previously estimated the growth rate for this fiscal to be 3.6%. The estimate was significant as this would be the lowest GDP growth in the last 29 years.
The report also highlighted that in the absence of any stimulus measures from the government, the fiscal deficit would touch 4.4% of GDP in this fiscal 2020-21, the official target being 3.5%.
30. Which global company’s Single Radio Access Network (SRAN) solution is to be implemented across India, in context with its recent partnership with Bharti Airtel?
[A] Motorola
[B] Nokia
[C] Xiaomi
[D] Huawei
Show Answer
Correct Answer: B [Nokia]
Notes:
Global Telecom giant Nokia has recently partnered with the leading telecom services company Bharti Airtel in India, to enhance network capacity.
As per the multi-year agreement claimed to be worth about $1 billion, the Single Radio Access Network (SRAN) solution of Nokia is to be deployed across nine circles in India. This partnership would help Airtel in enhancing its 4G network capacity and introduction of 5G connectivity in the future.
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