Current Finance Quiz

8/4/2019 Current Finance Quiz

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CURRENT AFFAIRS ONCURRENT AFFAIRS ONFINANCEFINANCE



1.1. According to the first mid-quarter review of RBI’sAccording to the first mid-quarter review of RBI’sMonetary Policy, 2011-12, an initiative was takenMonetary Policy, 2011-12, an initiative was takenmoderate inflation and check inflationary expectations.moderate inflation and check inflationary expectations.What was the initiative?What was the initiative?

a. Hike in Repo Ratea. Hike in Repo Rateb. Hike in Reverse Repo Rateb. Hike in Reverse Repo Ratec. Hike in Bank Ratec. Hike in Bank Rated. Hike in Cash Reserve Ratiod. Hike in Cash Reserve Ratio

Answer: (a). Hike in Repo Rate



2.2. In June 2011, what has been done by the governmentIn June 2011, what has been done by the governmentof India to benefit the exports sector?of India to benefit the exports sector?

a. Reduction of tax incentive scheme for exportersa. Reduction of tax incentive scheme for exportersb. Extension of tax incentive scheme for exportersb. Extension of tax incentive scheme for exportersc. Reduction of tax incentive scheme for importersc. Reduction of tax incentive scheme for importersd. Extension of tax incentive scheme for importersd. Extension of tax incentive scheme for importers

Answer: (b) Extension of tax incentive

scheme for exporters



3.3. Which of the following banks recently signed a $132Which of the following banks recently signed a $132million loan agreement with the Indian government formillion loan agreement with the Indian government forstrengthening Bihar’s power sector?strengthening Bihar’s power sector?a. Asian Development Bank (ADB)a. Asian Development Bank (ADB)b. World Bankb. World Bankc. City Bankc. City Bankd. None of the aboved. None of the above

Answer: (a) Asian Development Bank (ADB)



4.4. Which of the following is/are correct according toWhich of the following is/are correct according tothe mid-quarter review of RBI’s 2011-12 Monetarythe mid-quarter review of RBI’s 2011-12 MonetaryPolicy?Policy?

a. Reverse repo rate (short term borrowing rate)a. Reverse repo rate (short term borrowing rate)became 6.5%became 6.5%b. Marginal Standing Facility rose to 8.5%b. Marginal Standing Facility rose to 8.5%c. Hike in repo rate (short term lending rate (by 25c. Hike in repo rate (short term lending rate (by 25

basis points to 7.5%basis points to 7.5%d. All of the aboved. All of the above

Answer: (d) All of the above



5.5. Which of the following was/were declared to beWhich of the following was/were declared to be

delisted by the Tata Steel?delisted by the Tata Steel?

a. Tata BlueScope Steela. Tata BlueScope Steelb. Riversdale Miningb. Riversdale Miningc. Both the above companiesc. Both the above companiesd. None of the aboved. None of the above

Answer: (b) Riversdale Mining



permitting private companies, primarily engaged inpermitting private companies, primarily engaged ininfrastructure funding, to attain the status of a PFI.infrastructure funding, to attain the status of a PFI.Which of the following conditions is not required for theWhich of the following conditions is not required for thecompany to attain PFI status?company to attain PFI status?a. A company should be established under a speciala. A company should be established under a specialAct or the Companies ActAct or the Companies Actb. The company’s main business should be relatedb. The company’s main business should be relatedto power equipment construction & power relatedto power equipment construction & power relatedactivities.activities.c. The company must be in existence for at least 3c. The company must be in existence for at least 3years and their financial statement should show thatyears and their financial statement should show thattheir income from the area exceeds 50 per cent of theirtheir income from the area exceeds 50 per cent of theirincome.income.d. The companies should have a net-worth of Rsd. The companies should have a net-worth of Rs1,000 crore.1,000 crore.

Answer: (b) The company’s mainbusiness should be related to powerequipment construction & power related

activities.



7.7. Which body on 3 June 2011 permitted UrbanWhich body on 3 June 2011 permitted Urbancooperative banks (UCBs) to give loans to self helpcooperative banks (UCBs) to give loans to self helpgroups (SHGs) to promote financial inclusion in thegroups (SHGs) to promote financial inclusion in thecountry?country?

a. Ministry of Finanacea. Ministry of Finanace

b. RBIb. RBIc. NABARDc. NABARDd. CCId. CCI

Answer: (b) RBI



8. India has became a part of $ 10 billion Gas pipeline8. India has became a part of $ 10 billion Gas pipelineproject, the project is backed by-project, the project is backed by-

(1) Russia(1) Russia

(2) U. S. A.(2) U. S. A.

(3) England(3) England

(4) Japan(4) Japan

Answer: (2)U .S .A.



9. According to Union Budget (2011-12), financial helps9. According to Union Budget (2011-12), financial helps

for Metro projects in Delhi, Mumbai Bangalore, Kolkattafor Metro projects in Delhi, Mumbai Bangalore, Kolkattaand _____.and _____.

(1) Ahmedabad(1) Ahmedabad

(2) Kanpur(2) Kanpur(3) Pune(3) Pune

(4) Chennai(4) Chennai

Answer: (4)Chennai



10. Consider the following statements about Economic10. Consider the following statements about EconomicSurvey (2010-11) Which of the above statements areSurvey (2010-11) Which of the above statements aretrue?true?

(a) Financial Inclusion: Broaden savings, integrated it(a) Financial Inclusion: Broaden savings, integrated itinto system to boost growthinto system to boost growth(b) Fiscal Deflect: Introduction of GST Crucial to raise(b) Fiscal Deflect: Introduction of GST Crucial to raiserevenues, narrow gaprevenues, narrow gap(C) Human Development: Strike free-a year of relative(C) Human Development: Strike free-a year of relativepeace in industrial relationspeace in industrial relations

(1) Only (a)(1) Only (a)

(2) Only (b)(2) Only (b)

(3) Only (c)(3) Only (c)

(4) All of the above(4) All of the above

Answer: (4)All of the above



11.Which of the following airways company has been11.Which of the following airways company has beenacquired by South Indis’s Sun Group?acquired by South Indis’s Sun Group?

(1) Spice Jet(1) Spice Jet

(2) IndiGo(2) IndiGo

(3) Go Air(3) Go Air

(4) Jet Airways(4) Jet Airways

Answer: (1)Spice Jet



12. ‘IMPS’ is a new term being used in banking sector Its12. ‘IMPS’ is a new term being used in banking sector Itsfull form is –full form is –

(1) Indian Money Payment Service(1) Indian Money Payment Service

(2) Interbank Mobile Payment Service(2) Interbank Mobile Payment Service

(3) International Money Payment Service(3) International Money Payment Service

(4) International Mobile Payment Service(4) International Mobile Payment Service

Answer: (2)Interbank Mobile Payment

service



11 3. Which of the following economy has been rated as3. Which of the following economy has been rated asthe freest economy in the world for the 17ththe freest economy in the world for the 17thconsecutive year?consecutive year?

(1) Singapore(1) Singapore

(2) Hong Kong(2) Hong Kong

(3) United States(3) United States

(4) South Korea(4) South Korea

Answer: (2)Hong Kong



14.What was the initial growth target of the eleventh14.What was the initial growth target of the eleventhplan (2007-08 to 2010-11) on an average a year?plan (2007-08 to 2010-11) on an average a year?

a)7%a)7%b)8%b)8%c)9%c)9%

d)10%d)10%

Answer: (c)9%



4. The 218-km Chainsa-Sultanpur-Neemrana pipeline4. The 218-km Chainsa-Sultanpur-Neemrana pipelinewas commissioned on 9 April 2011. Which of thewas commissioned on 9 April 2011. Which of thefollowing built the pipeline?following built the pipeline?

a. RIGZONEa. RIGZONEb. GAIL (India)b. GAIL (India)c. High - Tech Group of Companiesc. High - Tech Group of Companies

d. Max Engineeringd. Max EngineeringAnswer: (b) GAIL (India)



16. What is correct regarding FDI in the financial year16. What is correct regarding FDI in the financial year2010-11?2010-11?

a. FDI was stagnant in comparison with the financiala. FDI was stagnant in comparison with the financialyear 2009-10year 2009-10

b. FDI by Indian firms jumped more than two-folds inb. FDI by Indian firms jumped more than two-folds infinancial year 2010-11financial year 2010-11

c. FDI dipped tremendouslyc. FDI dipped tremendously

d. None of the aboved. None of the above

Answer: (b) FDI by Indian firms jumpedmore than two-folds in financial year

2010-11



17. Food inflation in India eased to its seven week low at17. Food inflation in India eased to its seven week low at7.61 percent for the week ended 25 June 2011. The7.61 percent for the week ended 25 June 2011. Thereason behind decrease in inflation is cheaper pulsesreason behind decrease in inflation is cheaper pulsesand vegetables. Who released the data?and vegetables. Who released the data?

a. The WPI (Wholesale Price Index)a. The WPI (Wholesale Price Index)

b. FICCIb. FICCI

c. Commerce Ministry of Indiac. Commerce Ministry of India

d. Finance Ministry of Indiad. Finance Ministry of India

Answer: (a) The WPI (Wholesale PriceIndex)



18. How much custom duty is to be paid on 10 gram of 18. How much custom duty is to be paid on 10 gram of gold as per 2010-11 budget ?gold as per 2010-11 budget ?

(A) Rs. 100(A) Rs. 100(B) Rs. 200(B) Rs. 200(C) Rs. 300(C) Rs. 300(D) Rs. 500(D) Rs. 500

Answer: (c)Rs. 300



Bonus QuestionBonus Question

Who was the Finance minister during 2G spectrumWho was the Finance minister during 2G spectrumlicense allocation?license allocation?

Answer: P Chidambaram



ThANK You! ThANK You!

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Current Finance Quiz