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

1 .

Who is partnered with Mastercard to power bank's s credit processing?

A)

RBI

B)

UBS

C)

Citibank

D)

Zeta

Correct Answer : 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.

2 .

Who signed the MoU with Solar Energy Corporation of India?

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 : 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

3 .

Who has announced that it is an official acquiring partner for 'e-RUPI vouchers'?

A)

Kotak Mahindra Bank

B)

Paytm Payments Bank Limited

C)

Airtel Payments Bank

D)

Fino Payments Bank

Correct Answer : 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.

4 .

Which company has collaborated with Germany-based RWE Renewable GmbH to explore the potential for joint development of offshore wind projects in India?

A)

Tata Power

B)

Adani Group

C)

NTPC Limited

D)

Reliance Power

Correct Answer : 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

5 .

Which company is likely to launch IPO worth USD 8 billion in March?

A)

Life Insurance Corporation (LIC)

B)

Hindustan Aeronautics Limited(HAL)

C)

Air India

D)

Oil and Natural Gas Corporation(ONGC)

Correct Answer : 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.

6 .

India has signed Work Plan 2022 with which country to reduce trade barrier?

A)

Russia

B)

Japan

C)

France

D)

Germany

Correct Answer : 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.

7 .

Ministry of Textiles has extended the timeline for submission of applications under the PLI Scheme for Textiles till February 28, 2022. What is the total outlay of PLI Scheme for Textile?

A)

Rs 8,555 crore

B)

Rs 9,725 crore

C)

Rs 10,683 crore

D)

Rs 11,578 crore

Correct Answer : 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.

8 .

Who has tied up a facility of Rs 8,000 crores (replacement facility) with Union Bank of India at 7.75% to take over the majority of the syndicated facility after discussions with lenders?

A)

ITC Limited

B)

Vedanta Ltd

C)

Hindustan Zinc

D)

Jindal Steel and Power

Correct Answer : Vedanta Ltd

Vedanta Ltd has tied up a facility of Rs 8,000 crores (replacement facility) with Union Bank of India at 7.75% to take over the majority of the syndicated facility after discussions with lenders. During 2020, amid the COVID-19 pandemic, Vedanta Ltd had tied up a syndicated facility of ₹10K crores with the State Bank of India as the lead bank at a running cost of 10.5 per cent.

This replacement facility was availed on December 28, 2021, to take over the existing Syndicated facility to reduce the overall interest cost of the company and to prepay high-cost debt raised at over 10% two years ago.

9 .

Which company has Surpasses Intel as World's top semiconductor company in 2021?

A)

QUALCOMM

B)

Nvidia Corporation

C)

Samsung Electronics

D)

Taiwan Semiconductor Manufacturing Company

Correct Answer : Samsung Electronics

South Korean electronics manufacturing giant, Samsung Electronics surpassed U.S chipmaker Intel to become the world’s leading chipmaker by revenue in 2021, according to a report released by research firm Counterpoint Technology Market Research.

While Intel posted relatively flattish results, Samsung took the lead with a strong DRAM and NAND flash market performance in 2021. Samsung also saw solid momentum in logic chips this year.

Memory vendors continued to lead the industry with SK Hynix and Micron taking the third and fourth positions, followed by IC design vendors, including Qualcomm and NVIDIA. The year saw 19% YoY revenue growth.

10 .

The Economic Survey 2021-22 states that government has set up National Land Monetisation Corporation (NLMC) to fast track monetisation of land and non-core assets of public sector entities. What is the initial authorised share capital of NLMC?

A)

Rs 5,000 crore

B)

Rs 7,600 crore

C)

Rs 9,500 crore

D)

Rs 12,070 crore

Correct Answer : Rs 5,000 crore

The government has set up a National Land Monetisation Corporation(NLMC) to fast track monetisation of land and non-core assets of public sector entities, the Economic Survey said on Monday(31st Jan 2022).

So far, CPSEs have referred 3,400 acres of land and other non-core assets for monetisation from CPSEs including MTNL, BSNL, BPCL, B&R, BEML, HMT Ltd, Instrumentation Ltd.

Since, the desired skill set to take on the responsibility of management and monetisation of non-core assets in government is limited, Finance Minister Nirmala Sitharaman in 2021-22 Budget had announced setting up of a Special Purpose Vehicle (SPV), with capacity and expertise, to carry out the monetisation of the land and other non-core assets in an efficient and prudent manner, in line with international best practices.

"In pursuance of the Budget announcement, National Land Monetisation Corporation (NLMC) is being incorporated as a 100 percent Government of India owned entity with an initial authorised share capital of Rs 5,000 crore and subscribed share capital of Rs 150 crore," it said.

Source : Economic Times

Business and Economics - General Knowledge Questions