31. Which is the first Indian company to cross the market capitalisation of Rs 12 lakh crore?
[A] HDFC
[B] Tata Consultancy Services
[C] Reliance Industries Ltd
[D] Infosys
Show Answer
Correct Answer: C [Reliance Industries Ltd]
Notes:
Reliance Industries Ltd (RIL) became the first Indian company to hit a market capitalisation of Rs 12 lakh crore.
In less than a month, the company has added over a market capitalisation of Rs 1 lakh crore, to stand at Rs 12.24 lakh crore. Since April, the company witnessed investments from 12 global investors. Recently, the wireless technology leader Qualcomm invested Rs 730 crores in Jio platforms.
32. 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.
33. Which country is the largest holder of American government securities, at the end of May 2020?
[A] China
[B] India
[C] Japan
[D] United Kingdom
Show Answer
Correct Answer: C [Japan]
Notes:
Japan remains the largest holder of American government securities, at the end of May 2020 with an exposure of USD 1.260 trillion.
India has increased its holdings of American government securities purchased through the Reserve Bank of India (RBI), by nearly USD 13 billion to USD 169.9 billion at the end of May. In February, the country had a record high of USD 177.5 billion worth securities and have seen fluctuations throughout this year.
34. What will be the effective contribution by the employees and employers to the Employee’s Provident Fund (EPF) from August 2020?
[A] 25%
[B] 24%
[C] 20%
[D] 18%
Show Answer
Correct Answer: B [24%]
Notes:
In the month of May, the Union Finance Minister Nirmala Sitharaman had reduced EPF contribution by 4% for three months of May, June and July.
2% of employer’s contribution and 2% of employee’s contribution were reduced. This step was taken as a part of relief measures announced by the Government during the Covid-19 pandemic. From the month of August, the effective contribution will come back to the old deduction rate of 24%.
35. Which global firm became the world’s most valuable publicly listed company, after surpassing Saudi Aramco?
[A] Apple
[B] Amazon
[C] Reliance
[D] Google
Show Answer
Correct Answer: A [Apple]
Notes:
Apple surpassed multinational petroleum company Saudi Aramco to become the world’s most valuable publicly listed company.
The market capitalisation of the technology company surged to USD 1.82 trillion, as per the regulatory filing of the company. Whereas, the market capitalisation of Aramco stood at USD 1.760 trillion.
36. What is the corpus offered by the Reserve Bank of India (RBI) to NABARD and NHB, to boost rural lending and affordable housing?
[A] Rs 10000 crore
[B] Rs 20000 crore
[C] Rs 30000crore
[D] Rs 40000 crore
Show Answer
Correct Answer: A [Rs 10000 crore]
Notes:
The Reserve Bank of India (RBI) has offered a credit facility of Rs 10000 crore to the National Bank for Agriculture and Rural Development (NABARD) and the National Housing Bank (NHB).
The fund of Rs 5,000 crore each is provided at policy lending rate to the banks, its will be deployed to boost rural lending and affordable housing across the country. Under this facility, small NBFCs and micro-lenders will extend small loans to the poor. Earlier, NABARD got a refinance support of Rs 35,000 crore and NHB got Rs 10,000 crore.
37. What is the deadline given to the Public Sector Undertakings to pay Customs Duty, after they clear the imported goods?
[A] 1 day
[B] 3 days
[C] 7 days
[D] 14 days
Show Answer
Correct Answer: D [14 days]
Notes:
Central Board of Indirect Taxes and Customs (CBIC) has recently announced that the Public Sector Undertakings (PSUs) are permitted to first clear the goods imported by them through Customs and then pay Customs duty within 14 days.
This measure is a part of the ‘Turant Customs’ initiative which seeks to introduce a Faceless and Paperless Customs environment. This announcement will lead to faster clearance of the goods imported by the PSUs.
38. Which Bank is set to use satellite data to provide credit facilities to farmers?
[A] State Bank of India
[B] HDFC Bank
[C] ICICI Bank
[D] Indian Bank
Show Answer
Correct Answer: C [ICICI Bank]
Notes:
One of India’s largest private sector lenders ICICI Bank has decided to use satellite data to assess rainfall and harvesting patterns of the country.
The Bank will combine this data with financial analytics to assess rainfall and harvesting patterns and to offer quick and hassle-free loans to farmers. This new feature is expected to bring down the loan processing time to less than 15 days.
39. Hong Kong based firm PAG has announced to acquire the controlling stake of which Indian firm?
[A] Edelweiss Financial Services
[B] IIFL Finance
[C] L&T Finance Ltd
[D] Bajaj Finance Ltd
Show Answer
Correct Answer: A [Edelweiss Financial Services]
Notes:
Hong Kong based Private Equity (PE) firm – PAG, has announced a strategic investment worth Rs.2244 crore in Edelweiss Financial Services.
PAG, formerly called Pacific Alliance Group would acquire 51% stake that means a controlling stake in wealth management, investment banking biz of Edelweiss. PAG is one among the largest Asia-focused alternative asset management firm.
40. Which business conglomerate is set to buy the retail business of Future Group?
[A] Reliance Industries Ltd
[B] Tata Group
[C] Adani Enterprises
[D] Mahindra & Mahindra
Show Answer
Correct Answer: A [Reliance Industries Ltd]
Notes:
Reliance Retail Ventures Limited (RRVL), a subsidiary of the Reliance Industries Ltd (RIL) has announced that it is set to acquire the entire retail business from the Future Group.
RIL will also acquire the wholesale, logistics and warehousing businesses from the Future Group, for Rs 24,713 crore. The brands of Future include Big Bazaar, Easyday, Nilgiris, Central and Brand Factory.
