Latest Business and Economics General Knowledge(GK) Questions and answers

1 .

Exide and Leclanche's joint venture "Nexcharge" begins production in which state?

A)

Delhi

B)

Gujarat

C)

Maharashtra

D)

Uttar Pradesh

Correct Answer : Gujarat

Indian battery maker Exide Industries and joint venture partner Switzerland's "Leclanche" SA have begun mass production at the nation's largest lithium-ion battery plant in the western state of Gujarat, the companies said on Thursday(5th May 2022).

The plant, with total installed capacity of 1.5 Gigawatt hours (GWh), has six automated assembly lines on which it will produce batteries for automobiles and energy storage applications, the joint venture company," Nexcharge", said in a statement.

Source : The Hindu

2 .

How many billion dollars has Reliance's annual revenue crossed in 2021-22?

A)

150 Billion Dollars

B)

120 Billion Dollars

C)

100 Billion Dollars

D)

80 Billion Dollars

Correct Answer : 100 Billion Dollars

Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday(6th May 2022) reported a 22.5 percent rise in net profit for the quarter ended March on the back of bumper oil refining margins, steady growth in telecom and digital services and strong momentum in the retail business.

The oil-to-retail-to-telecom conglomerate's consolidated net profit rose to â‚¹16,203 crore in the quarter ended March 31, 2022 from â‚¹13,227 crore, the firm said in a statement.

* Net profit, however, fell 12.6 percent sequentially -- breaking a six-quarter chain of quarter-on-quarter improvement.

* Reliance's earnings also rose because of a rise in broadband subscribers, online retail gaining traction and new energy investment picking roots.

* Consolidated revenue of the nation's biggest company by market value rose 35 percent year-on-year to â‚¹2.32 lakh crore in the fourth quarter of FY22.

* For the full fiscal 2021-22 (April 2021 to March 2022), Reliance reported a net profit of â‚¹60,705 crore on a revenue of â‚¹7.92 lakh crore (USD 102 billion).

* It is the first Indian company to have crossed USD 100 billion revenue in a year.

Source : Hindustan Times

3 .

Which company announced to merge with Mindtree to become 5th-largest IT firm?

A)

Hexaware Technologies

B)

KPIT Technologies

C)

Larsen & Toubro Infotech

D)

Zensar Technologies

Correct Answer : Larsen & Toubro Infotech

Larsen & Toubro Infotech and Mindtree, the two independently listed IT services companies under Larsen & Toubro Group, on Friday(6th May 2022) announced a merger that would create India’s fifth-largest IT services provider.

The combined entity will be known as “LTIMindtree”.

The Boards of Directors of Mindtree and L&T Infotech (LTI) at their respective meetings held on Friday(6th May 2022) approved a composite scheme of amalgamation of both these independently listed IT services companies under the Larsen & Toubro Group. The proposed integration will see Mindtree and LTI join strengths to create an efficient and scaled up IT services provider exceeding USD 3.5 billion, Mindtree said in a statement.

Source : The Print

4 .

What is the ranking of India in cryptocurrency profits by 'Chainalysis 2021' by country?

A)

5th

B)

11th

C)

17th

D)

21st

Correct Answer : 21st

* According to the data released by crypto analytics firm Chainalysis, investors around the world realized total Crypto gains of $162.7 billion in 2021, compared to $32.5 billion in 2020. This is 2nd consecutive data by Chainalysis. Ethereum is the most noteworthy gainer among the crypto assets.

* The report highlights that Ethereum edged out Bitcoin in total realized gains globally at $76.3 billion to $74.7 billion.

* However, India ranked lowly at 21st with realized gains of around $1.85 billion while it is topped by the United States with an estimated realized Crypto gain of $49.95 billion.

* The US is followed by the United Kingdom at 2nd with estimated realized Crypto gains of $8.16 billion, Germany ($5.82 billion), Japan ($5.51 billion), and China ($5.06 billion).

Source : Times Of India

5 .

Which company has joined the United Nations as a signatory April 2022?

A)

HDFC Life

B)

Max Life Insurance

C)

Tata AIA Life Insurance

D)

Life Insurance Corporation

Correct Answer : HDFC Life

* HDFC Life has signed up for the UN-supported Principles for Responsible Investment (PRI) with the objective of sustainable growth and long term value creation.

* The Company currently has Assets Under Management of over Rs. 2 lakh crores.

* The company focuses on better understanding the investment implications of Environmental, Social, and Governance (ESG) factors.

* Principles for Responsible Investment(PRI) was founded in 2005

* Commenting on the development, Vibha Padalkar, MD & CEO – HDFC Life, said, “We are pleased to announce our association with the PRI. We endeavour to grow holistically and sustainably by continuing to invest in the five pillars of our ESG strategy, namely – ethical conduct, responsible investing, diversity, equity & inclusion, holistic living and sustainable operations..

Source : The Print

6 .

Which company has signed deal with Telangana for the digital economy?

A)

Apple

B)

Google

C)

Amazon

D)

Microsoft

Correct Answer : Google

Google has signed a memorandum of understanding (MoU) with the Telangana Government to provide benefits of digital economy to the youth and women entrepreneurs.

The state government has been working with Google since 2017 on improving digital literacy.

Google and WE Hub, Govt. of Telangana, will jointly carry out Women Will programme to deliver digital, business, and financial skills to nano, micro, and small women-led businesses.

Source : The Hindu

7 .

Which of the following organizations publishes the World Economic Outlook?

A)

International Monetary Fund

B)

World Economic Forum

C)

World Bank

D)

International Economic Institute

Correct Answer : International Monetary Fund

World Economic Outlook

* It is a survey by the International Monetary Fund (IMF) that is usually published twice a year in the months of April and October.

* It analyses and predicts global economic developments during the near and medium term.

* In response to the growing demand for more frequent forecast updates, the WEO Update is published in January and July, between the two main WEO publications released usually in April and October.

Source : Financial Express

8 .

Which Indian company has signed an MoU with Norway's Equinor to collaborate on clean energy?

A)

GAIL

B)

HPCL

C)

ONGC

D)

IOCL

Correct Answer : ONGC

The Oil and Natural Gas Corporation Limited (ONGC) has signed a Memorandum of Understanding (MoU) with Norway's multinational energy company Equinor ASA. The agreement was signed on April 26, 2022 in New Delhi for collaboration and partnership in areas of upstream Exploration & Production, midstream, downstream and Clean energy options.

9 .

Who has expanded its strategic partnership with SBI Cards to power digital transformation?

A)

HCL

B)

Infosys

C)

Wipro

D)

TCS

Correct Answer : TCS

Tata Consultancy Services (TCS) in an announcement said that it is expanding its strategic partnership with SBI Cards and Payments Services, India’s largest pure-play credit card issuer, to power the latter’s next leg of digital transformation.

The new engagement is built on a decade-long partnership. TCS had helped the company transform its core cards sourcing platform and digitized a significant portion of the process. The future-ready, agile platform personalized customer experience and helped boost sales and retention.

During the Covid-19 crisis when social distancing norms were affecting customer interactions, TCS worked closely with SBI Card to implement video KYC and e-signature features to fully digitalize its cards sourcing process.

“At SBI Card, we have been able to implement numerous high performing and scalable technology initiatives over the years in association with TCS. These have been designed to support our fast-growing customer base and expanding business operations. In fact, we have been redefining user experience for our customers by investing in best-in-class digital capabilities to ensure enhanced customer engagement and payments experience,” said Rama Mohan Rao Amara, CEO, SBI Card..

Source : Business Standard

10 .

Who becomes the only country among top 10 steel growth in Jan-Mar' 2022?

A)

Pakistan

B)

India

C)

Israel

D)

Germany

Correct Answer : India

Union Steel Minister Ram Chandra Prasad Singh congratulated Indian steel industry for sterling performance at a global level and encouraged them to sustain this level of performance in the year 2022.

"Such momentum of production will help India reach the targeted level of 500 million tonne production capacity in the next 25 years of Amritkaal," he added.

As per the data released by World Steel Association (WSA) on 22nd April 2022, India is the only country among top 10 steel producing nations of the world, which has registered growth in steel production in January to March 2022 period, as compared to corresponding period last year.

India has produced 31.9 million tonne of steel in the period with a growth of 5.9 per cent. In March 2022, with a production of 10.9 million tonnes of steel in India, the growth rate is 4.4 per cent. Brazil is the only other country among top 10 nations which has registered growth in the month of March.

Steel Minister held separate meetings with public sector and private sector steel companies earlier this week and reviewed their capital expenditure, production targets and future plans. He exhorted them to keep in mind the carbon neutral commitment of India by 2070, hydrogen mission and clean and green steel while making strategic plans for the future.

Representatives of steel industry thanked the leadership and officials of Steel Ministry for the continuous guidance and support that they have been getting..

Source : Business World