21 . Which rating agency has revised India’s gross domestic product (GDP) growth forecast FY 2021-22 to 9.3% from 13.7%?
Which rating agency has revised India’s gross domestic product (GDP) growth forecast FY 2021-22 to 9.3% from 13.7%?
[A] India Ratings
[B] SBI
[C] S&P
[D] Moody’s
Hide Answer
Correct Answer: D [Moody’s]
Notes:
The rating agency Moody’s, has revised India’s gross domestic product (GDP) growth forecast from 13.7% to 9.3% for the financial year 2021-22.
The downgrade is on account of second wave of Covid infections across India and associated lock downs imposed by many states to curb the infection rates.
22.Who is the fund manager for SWAMIH Fund?
[A] Aditya Birla Sun Life AMC
[B] SBICap Ventures
[C] Canara Robeco AMC
[D] Edelweiss AMC
Hide Answer
Correct Answer: B [SBICap Ventures]
Notes:
SWAMIH Fund is an Alternative Investment Fund, which has been formed by the Government of India, to provide Debt financing to complete the stalled housing projects in India. SBICap Ventures Ltd has been appointed as the fund manager.
Recently, the Finance Minister Nirmala Sitharaman handed over the possession to 640 homebuyers of the first stalled project completed with funding by SWAMIH Fund. The project is located in Mumbai.
23.Which state has proposed to control microfinance, by way of a state legislation?
[A] Assam
[B] Uttar Pradesh
[C] Tamil Nadu
[D] Kerala
Hide Answer
Correct Answer: A [Assam]
Notes:
The state Government of Assam has enacted “The Assam Microfinance Institutions (Regulation of Moneylending) Act, 2020”, through which it proposes to control microfinance and related institutions. Under this act, micro finance institutions require separate registrations for working in a selected village or city.
In this regard, the Reserve Bank of India has expressed firm reservations and has stated that implementation of the Act would lead to dual regulation of the microfinance market.
24.Which country tops the list of Investor Countries of India in 2020-21?
[A] USA
[B] China
[C] Singapore
[D] UAE
Hide Answer
Correct Answer: C [Singapore]
Notes:
As per the recent data released on India’s Foreign Direct Investment (FDI) inflow during 2020-21, Singapore’ is at the top with 29%, followed by the U.S.A (23%) and Mauritius (9%).
In terms of sector, ‘Computer Software & Hardware’ is at the top with around 44% share of the total FDI Equity inflow followed by Construction Activities (13%) and Services Sector (8%).
25.What is the Corporate Profit to GDP ratio in India, as registered in FY 21?
[A] 2.63%
[B] 5.55%
[C] 10.2%
[D] 20.2%
Hide Answer
Correct Answer: A [2.63%]
Notes:
The combined net profit of all the listed companies in India has moved up by 57.6% in FY 21 to Rs.5.31 trillion.
The Corporate Profit to GDP ratio in India stood at 2.63% in FY 21 which is an all-time high in the last 10 years. Although the sales and revenue of many firms were low due to nationwide lockdown, higher profitability was achieved mainly due to decline in raw material prices and input cost.
26.What was India’s fiscal deficit for 2020-21 as per the Controller General of Accounts (CGA) data?
[A] 10%
[B] 9.3%
[C] 8%
[D] 3.5%
Hide Answer
Correct Answer: B [9.3%]
Notes:
As per the data released by the Controller General of Accounts (CGA), India’s fiscal deficit for 2020-21 stood at 9.3% of the gross domestic product (GDP) for the financial year 2020-21. This is lower than the Finance Ministry’s Budget estimates of 9.5%.
As per the CGA data, the revenue deficit stood at 7.42% during 2020-21.
27.Mastercard has partnered with which Fintech firm, to launch the Mandate HQ platform?
[A] Razorpay
[B] Instamojo
[C] Poicybazaar
[D] Pine Labs
Hide Answer
Correct Answer: A [Razorpay]
Notes:
Global Payments technology major Mastercard and Fintech unicorn Razorpay have launched a platform named ‘Mandate HQ’.
It is a secure recurring payment interface, that reduces the time for any card issuing bank to enable recurring payments for its customers. It will also businesses to get access to a large customer base, who use debit cards. The Reserve Bank of India (RBI) has recently issued a framework for processing of e-mandates on recurring online transactions.
28.The RBI has asked the banks to phase out which benchmark rate, mandatorily by December 31?
[A] LIBOR
[B] MIFOR
[C] SOFR
[D] SONIA
Hide Answer
Correct Answer: A [LIBOR]
Notes:
The Reserve Bank of India (RBI) told banks and other financial institutions to stop using the London Interbank Offered Rate (LIBOR).
RBI asked banks to switch to any other Alternative Reference Rates (ARR), as soon as possible and mandatorily by December 31. Mumbai Interbank Forward Outright Rate (MIFOR), which uses Libor as a benchmark, will also be scrapped. Secured Overnight Financing Rate (SOFR) and Sterling Overnight Interbank Average Rate (SONIA) are the other popular alternatives.
29.Which institution launched a scheme, to let retail investors participate in Government securities market?
[A] SEBI
[B] RBI
[C] Ministry of Finance
[D] NITI Aayog
Hide Answer
Correct Answer: B [RBI]
Notes:
The Reserve Bank of India (RBI) announced the ‘RBI Retail Direct’ scheme, which aims to facilitate investment in government securities (G-secs) by retail investors.
Under the ‘RBI Retail Direct’ scheme, retail investors will have the facility to open and maintain the ‘Retail Direct Gilt Account’ (RDG Account) with the RBI, through an online portal. The portal will give access to primary issuance of G-secs and access to NDS-OM (Negotiated Dealing System- Order Matching).
30.Which Bank has collaborated with Hughes Communications India Pvt. Ltd. to connect its branches using satellite-based connectivity solution?
[A] Axis Bank
[B] YES Bank
[C] Bank of India
[D] State Bank of India
Hide Answer
Correct Answer: C [Bank of India]
Notes:
Hughes Communications India Pvt. Ltd. (HCIPL) is a satellite broadband services firm which has collaborated with Bank of India to connect 1800 branches of Bank of India using satellite-based connectivity solution.
HCIPL has connected over 30,000 branches and 40,000 ATMs of 30 nationalised and private banks.
HCIPL will provide network connectivity through the Hughes Jupiter System.
It includes routers, gateways and network management system. The Headquarter of HCIPL is in Gurugram, Haryana and Partho Banerjee is the President and Managing director of the company.
Bank of India was established in 1906 and it is headquartered in Mumbai. Atanu Kumar Das is the present MD & CEO of Bank of India.