Business and Economy Current Affairs Questions and Answers

Daily GK Current Affairs : Business and Economy

Business and Economy Current Affairs Questions and answers on Daily Basis in form of Multiple Choice Questions for Upcoming SSC CGL 2017 Exam.

Read Also:  Current Affairs One Word Questions and Answers

1. Vijaya Bank on October 6, 2017, signed a MoU with which oil and gas company for digital payments with BHIM/ UPI?
6 अक्टूबर, 2017 को BHIM/UPI के साथ डिजिटल भुगतान के लिए किस तेल एवं गैस कंपनी के साथ एक समझौता ज्ञापन पर हस्ताक्षर किए?
[A] Indian Oil Corporation‎
[B] Oil and Natural Gas Corporation
[C] GAIL
[D] Bongaigaon Refinery and Petrochemicals
[E] Hindustan Petroleum Corporation Ltd

Answer: E. Hindustan Petroleum Corporation Ltd

Explanation:

Vijaya Bank has entered into a Memorandum of Understanding (MoU) with Hindustan Petroleum Corporation Ltd (HPCL) for enabling all HPCL retail outlets with BHIM/UPI merchant solutions. ​This rollout will empower all petrol pump attendants and LPG delivery personnel to accept digital payments. Customers can make payments by scanning a payment QR code, using BHIM Vijaya or any BHIM app that supports payments via UPI.
2. Name the company which has launched India's first online property bidding platform.
उस कंपनी का नाम बताएं जिसने भारत की पहली ऑनलाइन बोली-प्रक्रिया शुरू की है।
[A] 99Acres.com
[B] HDFC RED
[C] Nobroker.com
[D] MagicBricks
[E] Commonfloor

Answer: D. MagicBricks

Explanation:

Magicbricks announced the launch of India’s first online bidding platform, ‘My Bid, My Home’ for residential and commercial properties. It tied-up with leading developer ‘Magnificence in the Trinity Of Men, Materials & Money' (M3M) for the platform. Using this customers can bid for ready-to-move-in residential properties ranging from 1355 sqft to 7875 sqft in Gurugram from Oct 7, 2017. 
3. The Insolvency and Bankruptcy Board of India (IBBI) has amended the insolvency resolution process norms. As per the new rule, Indian companies can hold upto ____% stake in an information utility for three years from the date of inception.
भारतीय दिवाला और शोधन अक्षमता बोर्ड (IBBI) ने दिवालिया रिजोल्यूशन प्रक्रिया के नियमों में संशोधन किया है। नए नियम के अनुसार, भारतीय कंपनियां स्थापना की तारीख से तीन साल तक सूचना उपयोगिता में _____% तक हिस्सेदारी रख सकती है।
[A] 90
[B] 100
[C] 80
[D] 70
[E] 50

Answer: B. 100

Explanation:

Insolvency and Bankruptcy Board announced that it has amended the rules for information utilities, providing more leeway for setting up such entities. Now, a listed Indian company can hold up to 100% stake in an information utility, which stores financial information that helps to establish defaults and verify claims expeditiously. Amendments have been made effective from 29th September.
4. Which company on October 3, 2017, approved a  $100 million ESOP repurchase plan?
[A] TCS
[B] Mahindra
[C] Snapdeal
[D] TVS
[E] Flipkart

Answer: E. Flipkart

Explanation:

The board of Flipkart has approved a plan to repurchase employee stock options in a move that could benefit close to 6,000 current and former employees. The share buyback plan marks the largest such programme till date in the Indian startup sector and offers stakeholders the biggest opportunity, so far, to liquidate their holdings in the country's most valuable startup. The development comes after Flipkart successfully raised about $4 billion in financing this year from investors such as Japan's SoftBank Corporation and Chinese internet conglomerate Tencent.
5. Fitch Ratings on October 2, 2017, has lowered India's growth forecast to ___%.
[A] 6.9
[B] 6.8
[C] 6.7
[D] 6.6
[E] 6.4

Answer: A. 6.9

Explanation:

Fitch Ratings has lowered India's economic growth forecast for the current fiscal to 6.9 per cent from 7.4 per cent after the GDP growth "unexpectedly faltered" in the April-June quarter. Fitch Ratings has lowered India's economic growth forecast for the current fiscal to 6.9 per cent from 7.4 per cent after the GDP growth "unexpectedly faltered" in the April-June quarter. 
6.

The Global Financial Centres Index 22 is published by:



1. China Development Institute



2. Z/Yen Partners



3. Chinese Academy of Management Science



4. Centre for International Education and Research


[A] Only 1 and 2
[B] Only 3 and 4
[C] Only 1 and 3
[D] Only 2 and 3
[E] Only 2 and 4

Answer: A. Only 1 and 2

Explanation:

The Global Financial Centres Index 22 is published by  The China Development Institute (CDI) in Shenzhen and Z/Yen Partners in London, a leading commercial think tank, the GFCI report covers around 92 centres and 16 associate centres globally. As per its September 2017 edition, India's first IFSC has been featured at the tenth place in the report.  Gujarat International Finance Tec-City (GIFT)  has been put in the same league as other top financial centres in New York and Hong Kong. GFCI report has listed 15 centres that are likely to become more significant in the next few years.​
7. Which two banks on October 2, 2017 approved a $100 million loan for India's power sector?
[A] Asian Infrastructure Investment Bank‎ and Asian Development Bank
[B] World Bank and Caribbean Development Bank
[C] OPEC Fund for International Development and International Investment Bank
[D] Bank of International Settlements and Black Sea Trade and Development Bank
[E] European Central Bank and PTA Bank

Answer: A. Asian Infrastructure Investment Bank‎ and Asian Development Bank

Explanation:

China-led AIIB and multilateral funding agency ADB will co-finance a $100-million loan for India to improve power transmission network and expand the use of solar and wind energy. ​This was the fourth co-financing made by the AIIB and the ADB, two major multilateral development banks in Asia. India is the second largest shareholder in the AIIB.
8. The RBI has announced to foreign investment limits for debt to Rs. ____ trillion for the October-December quarter.
भारतीय रिज़र्व बैंक ने ऋण के लिए विदेशी निवेश सीमा को अक्टूबर-दिसंबर तिमाही के लिए ____ ट्रिलियन कर दिया है।
[A] 2.6
[B] 2.5
[C] 2.0
[D] 2.4
[E] 2.9

Answer: B. 2.5

Explanation:

RBI has increased foreign portfolio investors' investment limits in central & state govt securities by an aggregate Rs 14,200 cr for Oct-Dec period. Limits for investment by FPIs for Dec quarter have been increased by Rs 8,000 cr in Central govt securities & by Rs 6,200 cr in state development loans. After the expansion the total investments permissible in G-secs now stand at Rs 2,50,000 cr.

9. Which company on September 28, 2017 has created a B2B marketplace to help small and medium size businesses to help procure materials on its site?
28 सितंबर, 2017 को किस कंपनी ने छोटे और मध्यम आकार के व्यवसायों की सहायता के लिए अपनी साइट पर सामग्री खरीदने में मदद करने के लिए एक B2B बाज़ार बनाया है?
[A] eBay
[B] Flipkart
[C] Snapdeal
[D] Amazon
[E] Koovs

Answer: D. Amazon

Explanation:

 Amazon India has launched Amazon Business, a B2B marketplace on Amazon.in, to enable small and medium businesses to procure products through the platform. The platform, which will be available on the Amazon website, is registered under the main entity Amazon Seller Services. The launch comes two years after Amazon had piloted Amazonbusiness.in under its Amazon Wholesale India arm, which is open mainly on an invite-only basis in Bengaluru and Mangaluru. While Amazon sells products to businesses though Amazonbusiness.in as a wholesale retailer, Amazon Business will act as a pure marketplace, the company said. 

10. Which bank on September 30, 2017 partnered with top education institutes for fintech ideas?
30 सितंबर, 2017 को कौन से बैंक ने फिनटेक विचारों के लिए शीर्ष शिक्षा संस्थानों के साथ भागीदारी की?
[A] HDFC
[B] ICICI
[C] Yes
[D] Axis
[E] RBL

Answer: A. HDFC

Explanation:

In a first of its kind efforts in the domestic banking sector, second largest private sector lender HDFC Bank said it will be partnering with 50 technology and business schools to tap into emerging fintech ideas.It announced a tie-up with IIT-Bombay and IIT-Roorkee as part of the industry-academia partnership effort. The start-ups will get the bank’s platform to test their ideas in the real world, in addition to expert insights, and knowledge

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