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

1 .

Which china mobile company evaded customs duty of Rs 653 crore in india?

A)

Vivo

B)

Oppo

C)

Xiaomi

D)

OnePlus

Correct Answer : Xiaomi

The Finance Ministry has said that gadget manufacturer Xiaomi Technology India Private Limited has evaded customs duty of 653 crore rupees. Xiaomi India sales products under the MI brand.

An investigation was initiated by the Directorate of Revenue Intelligence against Xiaomi India and its contract manufacturers. During the investigation, searches were conducted at the premises of Xiaomi India, which led to the recovery of incriminating documents indicating that Xiaomi India was remitting royalty and licence fee to Qualcomm USA and to Beijing Xiaomi Mobile Software Co. Ltd. under contractual obligation. After completion of the investigation, three show cause notices were issued to Xiaomi Technology India Private Limited for demand and recovery of duty amounting to 653 crore rupees.

Source : News On Air

2 .

Which company invests $200 mn in Dunzo to acquire 25.8% stake?

A)

Reliance Retail Ventures Limited

B)

Spencer's Retail

C)

Aditya Birla Retail Limited

D)

Morning Stars Retail Private Limited

Correct Answer : Reliance Retail

Logistics startup, Dunzo has raised $240 million led by Reliance Retail Ventures Limited (Reliance Retail) at a time when the Mukesh Ambani-led conglomerate is building its e-commerce capabilities to take on the likes of Amazon, Flipkart. The investment was led by Reliance Retail Ventures Limited (Reliance Retail), with participation from existing investors Lightbox, Lightrock, 3L Capital and Alteria Capital. With an investment of $200 million, Reliance Retail will own 25.8 percent stake on a fully diluted basis.

According to an exchange filing by the Reliance Industries Limited, the capital will be used to further Dunzo’s vision to be the largest quick commerce business in the country, enabling instant delivery of essentials from a network of micro warehouses while also expanding its B2B business vertical to enable logistics for local merchants in Indian cities.

Source : Business Today

3 .

How many billion dollars did India record highest monthly exports in December 2021?

A)

$27.21 billion

B)

$30.17 billion

C)

$33.76 billion

D)

$37.29 billion

Correct Answer : $37.29 billion

The preliminary data released by the commerce and industry ministry, India exported goods worth $37.29 billion in December, the highest ever in a month, as demand for items such as engineering products, petroleum items, and gems and jewellery continued to soar. India’s export has increased by 37% from the figures of December 2020. The import has also increased by 38 per cent from last December. India’s exports of goods will cross 400 billion dollars in this fiscal year.

4 .

Which company acquires Israeli cybersecurity startup Siemplify for $500 million?

A)

Google

B)

Tesla

C)

Microsoft

D)

Facebook

Correct Answer : Google

Google announced on Tuesday(4th Jan 2022) that it is acquiring Israeli cybersecurity startup Siemplify for a reported $500 million.

Google Cloud Security vice president Sunil Potti said Siemplify is a leader in the security orchestration, automation and response (SOAR) field. Their platform will be integrated into Google Cloud's security team "to help companies better manage their threat response."

"In a time when cyberattacks are rapidly growing in both frequency and sophistication, there's never been a better time to bring these two companies together. We both share the belief that security analysts need to be able to solve more incidents with greater complexity while requiring less effort and less specialized knowledge. With Siemplify, we will change the rules on how organizations hunt, detect and respond to threats," Potti said..

5 .

Which company becomes world's first company to hit $3 trillion market value in Jan 2022?

A)

Tesla

B)

Apple

C)

Google

D)

Microsoft

Correct Answer : Apple

Apple Inc (AAPL.O) on Monday(3rd Jan 2022) became the first company to hit a $3 trillion stock market value, before ending the day a hair below that milestone, as investors bet the iPhone maker will keep launching best-selling products as it explores new markets such as automated cars and virtual reality.

On the first day of trading in 2022, the Silicon Valley company's shares hit an intraday record high of $182.88, putting Apple's market value just above $3 trillion. The stock ended the session up 2.5% at $182.01, with Apple's market capitalization at $2.99 trillion.

The world's most valuable company reached the milestone as investors bet that consumers will continue to shell out top dollar for iPhones, MacBooks and services such as Apple TV and Apple Music..

Source : Reuters

6 .

Who has restructured its advisory committee on market data in Jan 2022?

A)

RBI

B)

IRDA

C)

SEBI

D)

NSDL

Correct Answer : SEBI

SEBI has restructured its advisory committee on market data that recommends policy measures pertaining to areas like securities market data access and privacy.

Rejigging its market data advisory committee, Sebi has said the panel will now be chaired by S Sahoo, Professor at National Law University, Delhi and former chairperson, Insolvency and Bankruptcy Board of India (IBBI), as per the latest information with the regulator.

The 20-member committee was earlier headed by Madhabi Puri Buch, ex-whole time member of Sebi.

Apart from Sahoo, the panel has CEOs of stock exchanges and depositories, representatives of various stakeholders and senior officials of Sebi as members..

Source : Business Standard

7 .

Which company plans to buy 5% equity in Power Exchange of India Ltd?

A)

Tata Power

B)

NHPC Limited

C)

NTPC Limited

D)

Power Grid Corporation of India

Correct Answer : NTPC Limited

State-run power giant National Thermal Power Corporation (NTPC) Limited is mulling acquiring 5 per cent equity stake in Power Exchange of India Ltd (PXIL) that provides various electricity trading options, a senior official said. The PXIL is India's first institutionally promoted power exchange, which has been providing various electricity trading solutions and connecting buyers as well sellers since 2008.

A senior official told PTI that NTPC has plans "to buy up to five per cent equity stake in PXIL. This decision has been taken in view of the government's intention to increase the share market to 25 per cent per cent of total electricity supply in India by 2023-24".

Asked whether NTPC would acquire more equity than 5 per cent in PXIL, the official explained that the NTPC cannot buy more than 5 per cent equity stake in the PXIL as it could also be a seller or buyer on the trading platform.

According to the data available on the Ministry of Corporate Affairs portal, the authorised share capital of the PXIL is Rs 120 crore and paid-up capital is Rs 58.47 crore. The PXIL was incorporated on February 20, 2008.

8 .

How many lakh crore GST collection will reach in December 2021?

A)

Rs 1.04 lakh crore

B)

Rs 1.13 lakh crore

C)

Rs 1.20 lakh crore

D)

Rs 1.29 lakh crore

Correct Answer : Rs 1.29 lakh crore

GST revenue collected in December 2021 was over Rs 1.29 lakh crore, 13% higher than the same month in 2020. The gross GST revenue collected in the month of December 2021 is ₹ 1,29,780 crore, of which CGST is ₹ 22,578 crore, SGST is ₹ 28,658 crore, IGST is Rs 69,155 crore (including Rs 37,527 crores collected on import of goods) and cess is Rs 9,389 crore.

Though the collection was lower than Rs 1.31 lakh crore mopped up in November, December is the sixth month in a row when revenue from goods sold and services rendered stood at over Rs 1 lakh crore. The average monthly gross GST collection for the third quarter (October-December) of the current year has been Rs 1.30 lakh crore against the average monthly collection of Rs 1.10 lakh crore and Rs 1.15 lakh crore in the first and second quarter, respectively.

9 .

Which rating agency estimates that India will grow by 9% in FY2022-2023?

A)

ICRA Rating

B)

CARE Rating

C)

Fitch Ratings

D)

S&P Global Ratings

Correct Answer : ICRA Rating

ICRA Ratings agency has maintained its forecast of a 9.0% GDP expansion in FY2022, with a clear K-shaped divergence amongst the formal and informal sectors of the economy. The ratings agency also expect the economy to maintain a similar 9.0% growth in FY2023.

ICRA has said the expansion in FY2023 is expected to be more “meaningful and tangible" than the base effect-led rise in FY22.

10 .

Which govt partnered with NPCI and SBI to implement 'e-RUPI'?

A)

Kerala

B)

Karnataka

C)

Haryana

D)

Uttar Pradesh

Correct Answer : Karnataka

The Karnataka government’s e-Governance department has partnered with the National Payments Corporation of India (NPCI) and State Bank of India (SBI) for enabling and implementing ‘e-RUPI’, a cashless and contactless payment solution to students under its scholarship programme.

e-RUPI will be used to ensure a leak-proof delivery of education fees of eligible students by paying digitally to the college or institute by the Karnataka government...

Source : Hindustan Times

Business and Economics - General Knowledge Questions