Banking, Economy and Business Quiz 1

1. What is the estimated GSDP of Jammu and Kashmir UT during 2021-22, as per its Budget?

1. 7.5 %
2. 6%
3. 1%
4. 2.5%

... Answer is 1)
Union Finance Minister Nirmala Sitharaman presented Rs 1.12 lakh crore Budget for the Union Territory of Jammu & Kashmir for 2022-23 in Parliament. Capital expenditure is estimated to be Rs 41,335 crore in 2022-23, 17.4 per cent higher than the revised estimates. The UT’s economy is expected to grow by 7.5 per cent on current prices during 2021-22.

2. What is the infrastructure lending target set for National Bank for Financial Infrastructure and Development (NaBFID)?

1.Rs 10 billion
2. Rs 10 trillion
3. Rs 1 trillion
4. Rs 1 billion

... Answer is 3)
Explanation: The Centre has set a target of about Rs 1 trillion for National Bank for Financial Infrastructure and Development (NaBFID). The limit has been set for sanctioning loans to the infrastructure sector in the next financial year. This government-backed Development Finance Institution (DFI) will start operations in the first quarter of the next financial year.

3. Which institution released the framework for geo-tagging of payment system touch points?

1. Ministry of Finance
2. RBI
3. NPCI
4. NITI Aayog

... Answer is 2)
Explanation Reserve Bank of India released the framework for geo-tagging of payment system touch points. Geo-tagging refers to capturing the geographical coordinates (latitude and longitude). The framework aims to ensure proper monitoring of the availability of payment acceptance infrastructure including Point of Sale terminals, and Quick Response codes.

4. The Unified Payments Interface (UPI) system crossed which milestone in terms of volume?

1. 500 crore
2. 100 crore
3. 50 crore
4. 10 crore

... Answer is 1)
Explanation: As per the data from the National Payments Corporation of India (NPCI), the Unified Payments Interface (UPI) crossed the 500-crore mark in terms of volume. In March this year, UPI was close to touching the ₹10-lakh crore milestone in value terms in March this year. There were around 315 banks live on the UPI platform by March this year.

5. Mirabai Chanu won a silver medal in which game?

1. Weightlifting
2. Boxing
3. Cricket
4. Shooting

... Answer is 1)
Explanation: Mirabai Chanu wins a silver medal at the weightlifting World Championships in Bogota, Colombia.

6. Female umpires will officiate in which Trophy, for the first time in Indian cricket history?

1. Santosh Trophy
2. Deodhar Trophy
3. Ranji Trophy
4. Nehru Trophy

... Answer is 3)
Explanation: Female umpires will officiate in Ranji Trophy this season, for the first time in Indian cricket history.

7. .‘Neu’ is the name of a super-application of which Indian Conglomerate?

1. Reliance Jio
2. Amazon
3. Tata Group
4. ITC Limited

... Answer is 3)
Explanation: Tata Neu is the super app of India’s leading conglomerate Tata Group, to bring together all of its digital services and apps on a single platform. Various digital services of the Tata Group from AirAsia India, Air India, Taj Group, BigBasket, 1mg, Croma and Westside will be possible through Tata Neu app.

8. Which institution launched Fincluvation, to encourage Start-ups to develop Financial Products?

1. [D] IPPB
2. NITI Aayog
3. NPCI
4. RBI

... Answer is 1)
Explanation:India Post Payments Bank (IPPB) launched Fincluvation, to encourage Start-ups to develop Financial Products. It is a joint initiative to collaborate with the financial technology (fintech) start-up community to co-create solutions for financial inclusion. The mentors will guide the start-ups to create products to the customer needs with operating models of IPPB and Department of Posts.

9.per SEBI’s recent directions, what is the minimum number of investors for a Collective Investment Scheme?

1. 5
2. 10
3. 20
4. 50

... Answer is 3)
Explanation: In order to strengthen the regulatory framework for collective investment schemes, Securities and Exchange Board of India (SEBI) has enhanced the net worth criteria and track record requirements for entities managing collective investment schemes. The Markets regulator SEBI has mandated a minimum of 20 investors and a subscription amount of at least Rs 20 crore for each Collective Investment Scheme.

10. Vijay Shekhar Sharma and Salil Parekh are re-appointed as the MD and CEO of which two companies respectively?

1. Wipro and Paytm
2. Ola and Paytm
Paytm and Infosys
4. TCS and Infosys

... Answer is 3)
Explanation: The founder and chief executive officer of financial technology company Paytm, has been reappointed as managing director (MD) and chief executive officer (CEO) of One 97 Communications, which operates under Paytm brand. Infosys has re-appointed Salil Parekh as the Managing director and CEO of the company for five years. Since 2018, Parekh has been leading Infosys, the country’s second- largest IT services firm.

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