11. As per the October update of the IMF Regional Economic Outlook, what is India’s economic growth estimate for FY23?
[A] 6.5 %
[B] 6.8 %
[C] 7.2 %
[D] 7.5 %
Answer: B [6.8 %]
Notes:
The International Monetary Fund (IMF) slashed India’s economic growth estimate for FY23 to 6.8% from its July estimate of 7.4%, as per its Regional Economic Outlook.
The organisation cited the impact of external headwinds and weaker-than-expected second-quarter growth. As per the report, a slowdown of India’s growth to 6.1% is expected in FY24 due to external demand and tightening in monetary and financial conditions.
12. As per the RBI Act, the central bank has to send a report to the Government, in case of failure to maintain inflation target for how many quarters?
[A] Two
[B] Three
[C] Four
[D] Five
Answer: B [Three]
Notes:
Under section 45ZN of the RBI Act, the central bank is required to submit a report to the government explaining the reasons and remedial actions it would take, in case of failure to maintain its inflation target for three consecutive quarters.
For the first time since the implementation of the monetary policy framework in 2016, the central bank has called a special meeting of the Monetary Policy Committee (MPC). It will submit a report to the government, as the retail inflation rate is above six per cent target for three consecutive quarters from January 2022.
13. Which bank topped the ‘EASE 5.0 Reform Index’ for the first quarter of FY 2022-23?
[A] Union Bank of India
[B] Bank of India
[C] State Bank of India
[D] Canara Bank
Answer: C [State Bank of India]
Notes:
State Bank of India topped the EASE 5.0 Reform Index for the first quarter of FY 2022-23. It is followed by the Union Bank of India.
The Index has various parameters including digitally enabled customer offerings, Big data & analytics, Modem technology capabilities, Collaborative banking and Employee development and governance.
14. Which bank launched FIRSTAP, the country’s first sticker-based debit card?
[A] Axis Bank
[B] IDFC First Bank
[C] Bandhan Bank
[D] HDFC Bank
Answer: B [IDFC First Bank]
Notes:
IDFC First Bank launched FIRSTAP, the country’s first sticker-based debit card, in association with National Payments Corporation of India (NPCI).
The sticker-based debit card was one-third the size of a regular debit card. It can be used by tapping the sticker on a near field communication (NFC)-enabled point-of-sale terminal.
15. The Central government received a dividend tranche of Rs 5,001 crore from which PSU?
[A] BPCL
[B] ONGC
[C] REC
[D] IOCL
Answer: B [ONGC]
Notes:
The Central government received a huge dividend tranche of Rs 5,001 crore from the Maharatna Company ONGC.
This was announced by Secretary in the Department of Investment and Public Asset Management (DIPAM) Tuhin Kanta Pandey. The government had earlier received about Rs 690 crore from Bharat Petroleum Corporation Limited (BPCL) as dividend tranche.
16. Which is the fund manager of the Bharat Bond ETF (exchange traded fund)?
[A] SBI Cap
[B] Edelweiss Mutual Fund
[C] Aditya Birla Sun Life Mutual Fund
[D] Nippon India Mutual Fund
Answer: B [Edelweiss Mutual Fund]
Notes:
The government has launched the fourth tranche of Bharat Bond ETF, India’s first corporate bond exchange traded fund.
Edelweiss Mutual Fund manages the Bharat Bond ETF. The funds will be utilised for undertaking capital expenditures by central public sector enterprises (CPSEs).
17. What is the Consumer Price Index (CPI)-based retail inflation for November in India?
[A] 5.22 %
[B] 5.88 %
[C] 6.22 %
[D] 8.88 %
Answer: B [5.88 %]
Notes:
India’s retail inflation, which is measured by the Consumer Price Index (CPI), eased to 11-month low of 5.88% on an annual basis in November.
The inflation was 6.77% in October, 2022. The sharp rise is due to the dipping global commodity prices and higher borrowing costs. The inflation figure came within the Reserve Bank of India’s (RBI) tolerance band of 2-6% for the first time this year. The factory output, measured in terms of the Index of Industrial Production (IIP), contracted 4% in October
18. Which company is set to acquire clinker, cement and power Plants from Jaiprakash group?
[A] Mittal Group
[B] Dalmia Cement
[C] Ramco Cements
[D] India Cements
Answer: B [Dalmia Cement]
Notes:
Dalmia Cement Bharat Limited, wholly owned subsidiary of Dalmia Bharat Limited, announced an agreement to acquire clinker, cement and power Plants from Jaiprakash Associates Limited and its associate having total cement capacity of 9.4 MnT at an enterprise value of ₹5,666 crore.
This includes clinker of 6.7MnT capacity and thermal power plants of 280MW capacity.
19. International Finance Corporation (IFC) has extended a USD 400-million loan to which company in India?
[A] SBI
[B] Can Fin Homes
[C] HDFC
[D] LIC Housing Finance
Answer: C [HDFC]
Notes:
The International Finance Corporation (IFC) has extended a USD 400-million loan to mortgage major HDFC for financing green affordable housing units.
The loan will help close the urban housing gap and improve access to climate-smart affordable homes by boosting green housing, creating jobs and ensuring long-term business growth.
20. What is the target for agricultural and processed food products from India for 2022-23?
[A] USD 3.56 billion
[B] USD 13.56 billion
[C] USD 23.56 billion
[D] USD 43.56 billion
Answer: C [USD 23.56 billion]
Notes:
India’s agricultural and processed food products exports rose by 16 per cent in the first eight months (April-November) of the current financial year 2022-23 on an annual basis.
For the year 2022-23, an export target of $23.56 billion has been fixed for the agricultural and processed food products basket. At present, the agricultural exports attained 74 per cent of its annual export target.