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

1 .

Swiggy has become Decacorn, how many billions has the valuation crossed in the new funding round?

A)

$9.1 billion

B)

$10.7 billion

C)

$12.4 billion

D)

$15.6 billion

Correct Answer : $10.7 billion

Food-ordering and instant grocery delivery platform, Swiggy has signed a $700 million funding round led by asset manager "Invesco". With this, the total valuation of Swiggy has reached to $10.7 billion i.e. it is now a decacorn.

Swiggy’s latest valuation is almost double that of Zomato before the latter went for its initial public offering. Zomato was valued at $5.4 billion before its IPO.

Bengaluru-based Swiggy has overtaken budget hospitality company Oyo, whose valuation dropped to $8 billion in 2020 from $10 billion in 2019, and then increased to $9 billion in 2021.

Swiggy has overtaken sports technology company Dream Sports, the parent firm of fantasy sports platform Dream11.

Source : Business Standard

2 .

Who has signed a pact with the University of Oulu, Finland, to accelerate research and standardization in 6G technology?

A)

Optus

B)

Jio

C)

Airtel

D)

AT&T

Correct Answer : Jio

Jio Platforms (JPL) has signed a pact with the University of Oulu, Finland, for undertaking research and standardization related activities in 6G technology.

Jio Platforms, we entered into a strategic partnership with the University of Oulu, Finland - to accelerate research and standardisation in 6G technology,” Jio Senior Vice President Aayush Bhatnagar Thursday(20th Jan 2022) said in a post on social media platform Linkedin.

JPL, established in October 2019 as a wholly owned unit of Reliance, houses the Mukesh Ambani-owned group’s telecom business Reliance Jio Infocomm, the largest in the country, and other digital properties and investments. Reliance Jio though makes up the bulk of JPL’s numbers.

Source : Economic Times

3 .

According to the Reserve Bank of India (RBI) Working Paper, what is the estimated optimal hedge ratio for External Trade Loans (ECBs) raised by companies in India?

A)

50%

B)

57%

C)

63%

D)

71%

Correct Answer : 63%

The optimal hedge ratio for the External Commercial Borrowings (ECBs) raised by firms in India is estimated at 63% for the periods of high volatility in the foreign exchange (forex/FX) market, according to a Reserve Bank of India (RBI) Working Paper.

An optimal hedge ratio is a ratio that implies the percentage of total asset or liability exposure that an entity ought to hedge against exchange rate fluctuations.

In times of typical high FX volatility, firms issuing ECBs may take recourse to hedge their exposure financially/ naturally in the range [63 per cent, 66 per cent], which would translate to the total cost on loan, including hedging cost, proportional to nearly 9 per cent,said Ranjeev, Assistant Adviser, Department of Statistics and Information Management, RBI.

Source : The Hindu Business Line

4 .

Who has announced on 18 January 2022, Tata Consultancy Services (TCS) will take over from Scotiabank to become the new title sponsor and technology partner of the Toronto Waterfront Marathon until 2026?

A)

Australia Running Series (ARS)

B)

Japan Running Series (JRS)

C)

Germany Running Series (GRS)

D)

Canada Running Series (CRS)

Correct Answer : Canada Running Series (CRS)

Canada Running Series (CRS) has announced on Tuesday(18th Jan 2022) morning that Tata Consultancy Services (TCS) will take over from Scotiabank to become the new title sponsor and technology partner of the Toronto Waterfront Marathon until 2026.

The TCS Toronto Waterfront Marathon will join other world-class marathons like New York City and London to carry the TCS sponsorship.

“The first year of our sponsorship will be all about discovery,” says Haley Price, Head of Sports Sponsorships at TCS. “We love that this race is engraved into Toronto and that the race starts just steps from our Toronto office.”

Source : Canadian Running

5 .

How Many Billions Will Microsoft Buy Candy Crush maker Activision Blizzard?

A)

$68.7 billion

B)

$83.5 billion

C)

$97.2 billion

D)

$105.6 billion

Correct Answer : $68.7 billion

Microsoft Corp said on Tuesday(18th Jan 2022) it would buy "Call of Duty" videogame maker Activision Blizzard for $68.7 billion in cash, the largest deal in the sector making the Xbox maker the third-largest gaming company by revenue.

Microsoft's offer of $95 per share is at a premium of 45 percent to Activision's Friday close.

Shares of Activision were up nearly 38 percent at $65.39 before being halted for news.

"Gaming is the most dynamic and exciting category in entertainment across all platforms today and will play a key role in the development of metaverse platforms," Microsoft Chief Executive Officer Satya Nadella said in a statement.

Demand for video games has surged during the pandemic, as stuck-at-home consumers play more games to keep themselves entertained.

Source : Money Control

6 .

Which company launches 'ClickPay' in collaboration with NPCI Bharat BillPay Ltd. (NBBL)?

A)

Paytm

B)

PhonePe

C)

Google Pay

D)

MobiKwik

Correct Answer : MobiKwik

MobiKwik, one of India’s largest mobile wallets and Buy Now Pay Later (BNPL) Fintech companies launched ‘ClickPay’ for its customers, in collaboration with NPCI Bharat BillPay Ltd. (NBBL), the wholly-owned subsidiary of National Payments Corporation of India. This feature enables MobiKwik customers to pay recurring online bills (such as mobile, gas, water, electricity, DTH, insurance, and loan EMIs) with ease by eliminating the need to remember individual bill details and due dates.

ClickPay is a two-step payment feature wherein the billers generate a unique payment link within the bill-pay message, allowing customers to make payments directly on the payment page.

Source : Mint

7 .

According to the released Chinese Customs data, how many billion dollars the bilateral trade between India and China crossed in 2021?

A)

USD 107 billion

B)

USD 125 billion

C)

USD 134 billion

D)

USD 148 billion

Correct Answer : USD 125 billion

The India-China bilateral trade touched a record high of over USD 125 billion in 2021, crossing the USD 100 billion-mark in a year when the relations hit a new low due to the prolonged standoff by the militaries in eastern Ladakh, while India's trade deficit too mounted to over USD 69 billion, according to official data released on Friday.

The total trade between China and India in 2021 stood at USD 125.66 billion, up 43.3 per cent from 2020, state-run Global Times reported, quoting data from the General Administration of Customs.

China's exports to India from January to December rose 46.2 percent to USD 97.52 billion, while India's exports to China grew by 34.2 percent to USD 28.14 billion.

The trade deficit for India grew to USD 69.38 billion in 2021.

Source : The Economic Times

8 .

Which country forex reserves declines by $878 mn to $632.7 bn?

A)

Japan

B)

Russia

C)

India

D)

United States

Correct Answer : India

As per the weekly Reserve Bank of India (RBI) data, the foreign exchange reserves of India declined by $878 million to USD 632.736 billion in the week ended January 7, 2022. In the previous week ended December 31, India’s reserves dropped by $1.466 billion to $633.614 billion.

The decline was mainly due to a fall in gold reserves and Foreign Currency Assets (FCA). In the reporting week, FCAs decreased by $497 million to $569.392 billion.

Gold reserves declined by $360 million to $39.044 billion. The special drawing rights (SDRs) with the International Monetary Fund (IMF) fell by $16 million to $19.098 billion. India’s reserve position with the IMF dipped by $5 million to $5.202 billion.

9 .

Which company was acquired by Flipkart Group for $40 million in Jan 2022?

A)

Budli

B)

Quickr

C)

Yaantra

D)

ShopClues

Correct Answer : Yaantra

Flipkart Group on Thursday(13th Jan 2022) announced the acquisition of Yaantra, an electronics re-commerce company, for an undisclosed amount as part of efforts to strengthen its re-commerce business and enhance after-sale offerings for its customers in the smartphones segment.

The acquisition has been effected through FK Group Entity, F1 Info Solutions and Services Pvt Ltd that is engaged in the business of offering comprehensive lifecycle management (repairs and refurbishment) for various categories including mobility, consumer electronics, IT and IT peripherals, AV and enterprise solutions, in the B2B (business-to-business) segment, according to a statement.

Yaantra, incorporated in 2013 by Jayant Jha, Ankit Saraf and Anmol Gupta, repairs and sells refurbished consumer tech products such as smartphones and laptops. With this acquisition, Flipkart will provide a comprehensive service ecosystem to its customers that takes care of the entire lifecycle of smartphones, the statement said. Flipkart will enable greater access to affordable refurbished smartphones, offering value and convenience for the end-consumers, it added.

Source : News18

10 .

The government is set to become the single largest shareholder of which telecom company?

A)

Vodafone Idea

B)

Reliance Jio

C)

Bharti Airtel

D)

Bharat Sanchar Nigam Limited

Correct Answer : Vodafone Idea

The Indian government will own a 36 percent stake in Vodafone Idea, the country's third-largest wireless phone operator in a new rescue plan. The news came after the company board during its meeting on January 10th approved the conversion of the full amount of interest related to spectrum auction installments and Adjusted Gross Revenue (AGR) Dues into equity.