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Business and Economics - General Knowledge Questions
A)
Rs 1 trillion
B)
Rs 2 trillions
C)
Rs 3 trillions
D)
Rs 4 trillions

Correct Answer : Option (A) - Rs 1 trillion

Central Government has set a target of about Rs 1 trillion for the National Bank for Financial Infrastructure and Development (NaBFID) for sanctioning loans to the infrastructure sector in the next financial year i.e 2022-23.

A)
7.84%
B)
8.69%
C)
9.67%
D)
11.57%

Correct Answer : Option (A) - 7.84%

HDFC Bank, Kotak Mahindra Bank, and Axis Bank have each purchased a 7.84 percent stake in ONDC, an open public digital infrastructure framework business.
 
 
Key Points :
 
* Each of the three banks has put in Rs 10 crore in the company.
* In a regulatory statement on Wednesday, HDFC Bank said it now owns 7.84 percent of ONDC’s equity share capital after allotting 10 lakh equity shares for Rs 10 crore.
* “Kotak Mahindra Bank has subscribed to 10,00,000 equity shares of Open Network for Digital Commerce (ONDC) for Rs 10 crore, translating into an equity shareholding of 7.84 percent in ONDC as of March 22,,” according to another filing.
* Axis Bank said in a separate filing that ONDC allotted 10,00,000 equity shares with a face value of Rs 100 apiece for a consideration of Rs 10 crore on March 22.
* The bank now owns 7.84 percent of ONDC following the allotment.
* The lenders stated that their investment in ONDC is intended to assist in the development and transformation of the Indian digital commerce ecosystem.

A)
PayU
B)
Razorpay
C)
Paytm
D)
PayPal

Correct Answer : Option (B) - Razorpay

Razorpay, a fintech unicorn, announced the purchase of IZealiant Technologies, a renowned Fintech business that provides banks with payments technology solutions, for an undisclosed sum. IZealiant is a Pune-based startup that offers banks and financial institutions mobile-first, API-enabled, and cloud-ready payment processing tools.
 
KEY POINTS :
 
* Razorpay’s Banking Solutions Arm will be strengthened by the purchase of IZealiant, which will develop revolutionary payment banking solutions for partner banks, allowing businesses and their end-customers to enjoy a faster, more seamless, and secure payment experience.

* Razorpay’s Banking team has worked on a number of important projects in India, including Razorpay TokenHQ, India’s first multi-network RBI compliant card tokenization solution, and MandateHQ, an API-based, plug-and-play recurring payments interface for banks.

* “We are pleased to have the IZealiant team join the Razorpay family today,” said Harshil Mathur, CEO and Co-founder of Razorpay, in response to the purchase. I am certain that the combined strength of two technological firms will provide our partner banks with the required assistance in developing next-generation solutions and changing market dynamics in the new normal.”

* “The team at IZealiant has considerable expertise creating and executing sophisticated, high-performance acquiring and issuing systems,” he continued, “and I am certain that together we will be able to offer industry-first solutions for Indian banks.””

* “We are happy to join up with Razorpay and be part of their growth path together,” stated Prashant Mengawade, CEO of IZealiant. Financial institutions are rapidly eager to implement innovative, versatile, and secure solutions to satisfy ever-changing client expectations, and the time couldn’t be better.

* IZealiant is incredibly proud of our customer-centricity and high-performing digital payments systems that we have designed for some of the world’s most prestigious financial institutions.

A)
RBI
B)
UBS
C)
Citibank
D)
Zeta

Correct Answer : Option (D) - Zeta

Mastercard and Zeta, a financial tech startup that provides next-generation credit card processing to banks and fintechs, established a 5-year worldwide agreement today(7th Mar 2022). As part of the deal, the companies will work together to create credit cards with issuers all around the world using Zeta’s modern, cloud-native, and API-ready credit processing stack.
 
KEY POINTS :
* According to a statement released by Zeta, Mastercard has bolstered the alliance by making a financial investment in the company.
* Zeta hopes to move the credit card processing industry from fragmented, multi-vendor systems to nimble, composable, single-vendor systems that are truly responsive to changing cardholder needs and preferences with Mastercard’s support and integration of its capabilities in digital issuance, fraud and risk, loyalty solutions, and more.
* Issuers will be able to launch cards significantly faster now that both partners have pre-configured essential features behind the scenes, making it easier than ever to quickly create and deploy flexible, highly customised card programmes, according to the banking tech unicorn.
 
ZETA TACHYON :
* Zeta Tachyon Credit is the only current credit processing stack in the business that can handle both credit and loan processing.
* The stack includes features for issuance, core, payments, BNPL loans, fraud and risk, rewards, and more, spanning the whole credit card programme lifetime.
* By providing a complete credit Banking-as-a-Service (BaaS) and embeddable banking platform to co-brands, fintechs, and affinity partners via Zeta’s comprehensive APIs, issuers may quickly develop new revenue lines as BIN/balance sheet sponsors.
* Customers can also take advantage of Zeta’s comprehensive managed services, which include servicing and collections, among other things.

A)
Indian Oil Corporation Limited (IOCL)
B)
Oil and Natural Gas Corporation (ONGC)
C)
Hindustan Petroleum Corporation Ltd (HPCL)
D)
Bharat Petroleum Corporation Limited (BPCL)

Correct Answer : Option (C) - Hindustan Petroleum Corporation Ltd (HPCL)

Hindustan Petroleum Corporation Ltd (HPCL), has signed a Memorandum of Understanding (MoU) with Solar Energy Corporation of India (SECI). a company of the Ministry of New and Renewable Energy, government of India, established to facilitate the implementation of the National Solar Mission, which envisages cooperation and collaboration in the field of renewable energy, electric mobility, and alternative fuels including the development of ESG Projects.
 
The MoU was signed by Shuvendu Gupta, chief general manager- Biofuels & Renewables, HPCL, and Sanjay Sharma, executive director, SECI.
 
Solar Energy Corporation of India has been at the forefront of renewable energy capacity development and has been credited for bringing the lowest tariffs in the country. It is engaged in the promotion and development of various renewable energy resources, especially solar/wind energy, renewable energy-based storage systems, waste to energy, trading of power, R&D Projects as well as renewable energy base products like green hydrogen, green Ammonia, renewable energy-powered electric vehicles among others.
 
line with the government of India’s objective of renewable energy capacity development and faster adoption of electric mobility in the Country, HPCL intends to further diversify in the sector and electric mobility sector and to take up the development of ESG projects..

Source : Auto Carpro

A)
Kotak Mahindra Bank
B)
Paytm Payments Bank Limited
C)
Airtel Payments Bank
D)
Fino Payments Bank

Correct Answer : Option (B) - Paytm Payments Bank Limited

Paytm Payments Bank Limited has announced that it is an official acquiring partner for ‘e-RUPI vouchers’. e-RUPI, which is a government initiative, is a cashless prepaid voucher that beneficiaries can present via SMS or QR Code. Paytm’s merchant partners can then scan, enter the amount to be paid and receive the payment directly in their bank account. This will benefit beneficiaries (users), even those who do not have access to formal banking services or smartphones to avail the convenience of digital payments.

A)
Tata Power
B)
Adani Group
C)
NTPC Limited
D)
Reliance Power

Correct Answer : Option (A) - Tata Power

Tata Power on Monday(21st Feb 2022) said it has collaborated with Germany-based RWE Renewable GmbH to explore potential for a joint development of offshore wind projects in India. A corresponding Memorandum of Understanding (MoU) has been signed between Tata Power Renewable Energy Limited, a 100 per cent subsidiary of Tata Power, which is one of India's largest integrated power companies, and RWE Renewables GmbH, one of the world's leaders in offshore wind, a Tata Power statement has said.
 
India is an unexplored and highly attractive market to develop opportunities for offshore wind as it has a large coastline of about 7,600 kilometres.
 
The MoU between Tata Power Renewable Energy and RWE becomes significant in the light of the Government of India's announcement of achieving 30 gigawatts (GW) of offshore wind installations by 2030 to meet the country's growing power demands, it added.
 
RWE and Tata Power Renewable Energy possess complementary strengths and will enable the establishment of a competitive offshore wind market in India..

Source : Economic Times

A)
Life Insurance Corporation (LIC)
B)
Hindustan Aeronautics Limited(HAL)
C)
Air India
D)
Oil and Natural Gas Corporation(ONGC)

Correct Answer : Option (A) - Life Insurance Corporation (LIC)

India's state-run Life Insurance Corporation (LIC) is set to launch India's biggest-ever IPO worth USD 8 billion on March 11, 2022. LIC's IPO is expected to get regulatory approval by the first week of March after which the marketing price band will be set.

A)
Russia
B)
Japan
C)
France
D)
Germany

Correct Answer : Option (D) - Germany

Indian Ministry for Consumer Affairs and the German Federal Ministry for Economic Affairs and Energy signed the Work Plan 2022 on February 15, 2022 to significantly improve quality infrastructure, lower trade obstacles and increase product safety, and boost consumer protection.

A)
Rs 8,555 crore
B)
Rs 9,725 crore
C)
Rs 10,683 crore
D)
Rs 11,578 crore

Correct Answer : Option (C) - Rs 10,683 crore

The Ministry of Textiles has  further  extended  the timeline for submission of applications under the PLI Scheme for Textiles till February 28, 2022.  Total financial outlay- Rs 10,683 crore.