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

1 .

Google has announced a partnership with the _______ in the Google for India 2022 event on 19th Dec 2022.

A)

Zerodha

B)

DigiLocker

C)

State Bank of India

D)

National Securities Depository Limited

Correct Answer : DigiLocker

A partnership with DigiLocker was announced by Google On Monday(19th Dec 2022). It was announced in the Google for India 2022 event.

DigiLocker is a government authorised identification storage system that brings government issued ID to the local storage of Android devices.

This partnership is a part of Google’s artificial intelligence (AI) which involves on-device processing of images and texts that help to identify important documents and organise them in ‘Files’- the local storage folder. The Android operating system of Google will also tap into the DigiLocker application programming interface (API).

Government issued and authorised verification documents will be stored locally on the smartphone itself. The President and chief executive of National e-Governance Division (NeGD), Abhishek Singh said that the developed application by the Ministry of Electronics and Information Technology (Meity) now has equal authority as that of an official document and DigiLocker will be available on Android devices as a pre-installed service by default “very soon”.

Google also mentioned that the AI identification system that it has will make use of AI processing capabilities which is locally located on each device and will not expose any sensitive document on the Internet.

Identification of government issued documents such as PAN card to Aadhaar card will be identified by the AI system locally. Also, a pattern lock will be provided to secure storage of the identification documents locally.

The Chief Executive Officer of Google, Sundar Pichai, in a conversation with Ashwini Vaishnaw said that India has offered references for a host of technological tools built by Google. Pichai said, “UPI is one of the biggest examples that I cite in terms of a successful digital tool, thanks to our learning with Google Pay..

Source : Financial Express

2 .

Which company has acquire Jaypee Group's cement assets for Rs 5,666 crore?

A)

ACC Limited

B)

Ramco Cements

C)

Dalmia Cement

D)

UltraTech Cement

Correct Answer : Dalmia Cement

The Jaypee Group on Monday(12th Dec 2022) said that a binding agreement had been signed to sell the group’s cement business to Dalmia Cement (Bharat) Ltd at an enterprise value of Rs 5,666 crore.

* The binding agreement has been signed by Jaiprakash Associates and Jaiprakash Power Ventures.

* The divestment includes cement plants with an aggregate capacity of 9.4 million tonne, clinker assets with a capacity of 6.7 million tonne, and 280 MW capacity thermal power plant, the Jaypee Group companies said.

* Proceeds from the divestment of the cement assets to Dalmia Bharat will be primarily used to repay Jaiprakash Associates’ debt.

* The cement and clinker capacities currently being sold to the Dalmia Group are situated in Madhya Pradesh, Uttar Pradesh, and Chhattisgarh..

Source : Economictimes

3 .

Which company acquisition of two digital first brands 'OZiva' and 'Wellbeing Nutrition'?

A)

Tata

B)

Godrej

C)

Britannia Industries

D)

Hindustan Unilever

Correct Answer : Hindustan Unilever

The acquisition by Hindustan Unilever Ltd (HUL) of the Oziva and Wellbeing Nutrition brands is unlikely to turn the needle for India’s biggest packaged consumer goods maker, either in terms of size or scale of the business, just yet, analysts say.

The acquisitions, nevertheless, will strengthen HUL’s intent of broadening its presence in the health and wellness segment and the company will likely use its vast distribution network and the expertise of parent Unilever to expand the newly acquired premium brands.

With the two purchases, HUL is taking control of companies that were selling their products only digitally. HUL is widely expected to strengthen its offline presence through its own formidable distribution clout.

Besides, with the acquisition of digital-only brands, HUL also gets to target consumers in the higher-income category as well as the younger population.

Millennials, particularly Gen-Z, which are driving the market towards health supplements and wellness, would be priceless acquisitions via these companies for HUL.

Analysts believe that alongside online sales, HUL would also scale up the newly acquired brands in the medium- to long-term through market development, coupled with its Research and Development (R&D) strengths.

Unilever already has a health, wellness, and nutrition portfolio worth a billion euros and as HUL embarks on the expansion and deepening of this product category in India, the product portfolio of the parent company could also slowly find its way to the country..

Source : Moneycontrol

4 .

Who has signed an MoU with Walmart Global Sourcing India Private Limited on 6th December, 2022?

A)

NSIC

B)

KVIC

C)

SIDBI

D)

NABARD

Correct Answer : NSIC

The National Small Industries Corporation Limited (NSIC) has signed an MoU with Walmart Global Sourcing India Private Limited on 6th December, 2022.

* The MoU was signed by Gaurang Dixit (Chairman, NSIC) and Prameela Mallaiah (Director and Hub Leader, Walmart) in the presence of Union Minister of MSME, Narayan Rane.

* Through this MoU, NSIC will extend the NSIC schemes and other services to MSMEs who would participate in various Vriddhi program.

* Moreover, the MSMEs would get the exposure to various advantages of gaining working capital, bulk procurement support etc. under various opportunities offered by NSIC.

* MSMEs who are part of the NSIC ecosystem will also be linked to the Vriddhi program in relevant clusters and get access to existing business training content, advisory support, tools and knowledge under the program – “free of cost”. The MoU will play a critical role in enabling MSME’s reach $2 trillion worth of exports by 2030.

* During the event, Shri Narayan Rane said, “I'm glad to see that Walmart's Vriddhi program has enabled a large number of Indian MSMEs to expand, boost their production, and experience growth.

* Walmart has been instrumental in enabling MSMEs with training and capacity building, especially through the pandemic. The Indian MSME sector currently comprises of 6.3 crore MSMEs that employ more than 11 crore people. We look forward to Walmart’s continued support to the growing MSME sector in the country.”

Source : PIB

5 .

Which company has commissioned its third wind-solar hybrid power plant at Jaisalmer in Rajasthan?

A)

NTPC Limited

B)

Reliance Power

C)

Power Grid Corporation of India

D)

Adani Green Energy Ltd

Correct Answer : Adani Green Energy Ltd

Adani Green Energy (AGEL), the renewables arm of the India-based Adani Group, has commissioned a 450MW hybrid power plant at Jaisalmer in Rajasthan, India.

* The facility is the third wind-solar hybrid power plant that AGEL has commissioned in the state.

* Equipped with advanced technologies, the hybrid power plant includes 420MW of solar capacity and 105MW of wind capacity.

* AGEL said that the facility already has 25-year power purchase agreements (PPAs) in place with the Solar Energy Corporation of India (SECI).

* The project has increased Adani Green Energy’s total operational hybrid power generation capacity to 1.4GW.

* It has also made AGEL the world’s largest wind-solar hybrid power farm developer.

* In addition, the 450MW facility increases AGEL’s total operational generation capacity to 7.17GW.

* The power plant is hosted by AGEL’s subsidiary, Adani Solar Energy Jaisalmer One Private.

* In September this year, AGEL began operations at a 600MW co-located hybrid power plant in Jaisalmer, which is claimed to be the largest such facility in the world.

* This came after Adani Hybrid Energy Jaisalmer One commissioned a 390MW hybrid power generation plant in Rajasthan in May.

* Located in Jaisalmer, the facility is understood to be India’s first wind-solar hybrid power plant and has a PPA in place with SECI.

* Its commissioning increased AGEL’s operational capacity to 5.8GW.

* At the time, AGEL managing director and CEO Vneet Jaain said : “Wind-solar hybrid energy is an important aspect of our business strategy, which aims to meet India’s growing need for green energy.

* “The commissioning of our hybrid plant is an incremental step towards meeting India’s sustainable energy goals.

* “We are extremely proud of the unrelenting effort our team has put in to deliver India’s first wind-solar hybrid plant.

* “This project is a part of the first construction facility by international banks in Adani Green.”..

Source : Power Technology

6 .

Which telecom company has announced that it has collaborated with Meta Platforms, Inc. (Meta) to support the growth of India's digital ecosystem?

A)

Jio

B)

Bharti Airtel

C)

BSNL

D)

Vodafone

Correct Answer : Bharti Airtel

Social media giant Meta Platforms and Bharti Airtel on Monday(5th Dec 2022) announced a collaboration to jointly invest in telecom infrastructure to cater to the rising demand of high speed data and digital services in India. The announcement comes on the back of telecom operators’ demand to share revenue with service providers to build networks.

* "Airtel and Meta will jointly invest in global connectivity infrastructure and CPaaS (communications platform as a service) based new-age digital solutions to support the emerging requirements of customers and enterprises in India," the statement said.

* As part of the collaboration, Airtel will partner with Meta and STC (Saudi Telecom Company), to extend the world’s longest subsea cable system, 2Africa Pearls, to India.

* The plan to extend 2Africa Pearls to India was announced by Meta in September 2021.

* Under the collaboration, Airtel and Meta will extend the cable to Airtel’s landing station in Mumbai and also pick up dedicated capacity to further strengthen its submarine network portfolio.

* "The 2Africa cable will significantly boost India’s cable capacity and empower global hyper-scalers and businesses to build new integrated solutions and provide a high-quality seamless experience to customers," the statement said.

* Airtel will also integrate Meta’s WhatsApp within its CPaaS platform. With this integration, businesses will now be able to use WhatsApp and reach to provide omnichannel customer engagement to enterprises..

Source : CNBC TV18

7 .

NDTV promoter company RRPR Holding transferred what percentage of shares to Adani VCPL?

A)

95.5%

B)

97.5%

C)

99.5%

D)

100%

Correct Answer : 99.5%

News broadcaster New Delhi Television Ltd’s (NDTV’s) promoter firm RRPR Holding said on Monday(28th Nov 2022) that it had transferred shares constituting 99.5 per cent of its equity capital to Adani group-owned Vishvapradhan Commercial (VCPL).

* The transaction was done on Monday(28th Nov 2022), RRPR Holding said in a disclosure to the stock exchanges, in consonance with a conversion notice, dated August 23, 2022, issued by VCPL. This follows the expiry of the two-year restraint imposed by the Securities & Exchange Board of India (Sebi) on November 26, it said.

* The transfer of shares will give the Adani group control over a 29.18 per cent stake in NDTV. The port-to-power conglomerate is also conducting an open offer for another 26 per cent stake in the media firm.

* The open offer, which began on November 22, has seen shareholders tender 5.3 million shares, or 31.78 per cent of the issue size of 16.7 million shares, so far, the exchange data showed.

* Gautam Adani, chairman of the Adani group, in an interview with the Financial Times, recently said the NDTV purchase was a “responsibility” rather than a “business opportunity” for him, and invited NDTV owner-founder Prannoy Roy to remain its head.

* “Sebi has not responded to a specific letter dated August 28, 2022, behalf the promoter group vehicle seeking clarification, but has since approved the letter of offer (dated November 11, 2022) by VCPL (acquirer) along with AMG Media Networks and Adani Enterprises for acquiring up to 16,762,530 fully paid-up equity shares of the face value of Rs 4 each representing 26 per cent of the voting share capital of New Delhi Television in accordance with the Sebi (Substantial Acquisition of Shares and Takeovers) Regulations, 2011,” RRPR Holding said on Monday(28th Nov 2022).

* On August 23, VCPL had said it had exercised rights to acquire an indirect stake of 29.18 per cent in NDTV through the conversion of warrants into an equity stake in the promoter group company RRPR Holding..

Source : Business Standard

8 .

Which company to Acquire Packaged Water Giant 'Bisleri' for About â‚¹7,000 Crore?

A)

TATA

B)

Reliance

C)

Adani Group

D)

Larsen and Toubro

Correct Answer : TATA

Tata Consumer Products Ltd will buy Bisleri International for up to â‚¹7000 crore on Thursday(24th Nov 2022), citing the packaged water maker's chairman Ramesh Chauhan.

Tata Consumer Products and Bisleri did not respond to Reuters requests for comment. Tata Consumer was the top gainer among Nifty50 stocks today, rising over 2.5% in early trade.

The Tata Group houses its consumer business under Tata Consumer Products Ltd (TCPL) which also sells packaged mineral water under the brand Himalayan and with brands as Tata Copper Plus Water and Tata Gluco in the hydration segment.

According to industry observers, if the deal is finalised, it would provide the Tata group FMCG arm a larger play into the fast-growing bottled water segment.

The Indian bottled water market was valued at over USD 2.43 billion (around â‚¹19,315 crore) in FY2021, said a report from market research and advisory TechSci Research.

It is expected to grow at a CAGR of 13.25 per cent on account of increasing disposable income, rising health and hygiene awareness, and increasing product innovation..

Source : Mint

9 .

Who has introduced a new option for appointment and removal of independent directors from the boards of companies?

A)

RBI

B)

IRDA

C)

SEBI

D)

NSDL

Correct Answer : SEBI

Capital markets regulator Securities and Exchange Board of India (SEBI) has introduced a new option for appointment and removal of independent directors from the boards of companies, a move that will provide flexibility to such a process.

Under this, the appointment and removal of independent directors could be done by way of two parameters : i)threshold for ordinary resolution, ii)threshold for majority of minority shareholders.

Currently, the appointment, re-appointment or removal of independent directors is made through a special resolution. For a special resolution to be passed, 75% of 'yes' votes are needed from a company's board.

To give these effects, SEBI has amended LODR (Listing Obligations and Disclosure Requirements) rules, according to a notification made public by the regulator on Tuesday(15th Nov 2022).

Under the alternate mechanism, if the special resolution for appointment of an independent director does not get the requisite majority, then two other thresholds—for ordinary resolution and for the majority of minority shareholders—would be tested.

If the resolution crosses the two above-mentioned thresholds in the same voting process, then such a resolution for appointment of the independent director would be deemed to be approved by shareholders..

Source : Money Life

10 .

By what percentage did India's industrial production increase in September 2022?

A)

5.4%

B)

4.9%

C)

3.7%

D)

3.1%

Correct Answer : 3.1%

India’s industrial output, as measured by the Index of Industrial Production (IIP), grew 3.1% in September 2022, supported by a double-digit increase in electricity generation.

This is compared with a contraction of 0.8% in the previous month and a growth of 4.4% in September 2021.

According to the latest data from the Ministry of Statistics & Programme Implementation, the country’s industrial production during April-September 2022 jumped 7%, compared with 23.8% in the year-ago period.

India’s electricity sector output grew in double-digits at 11.6% year-on-year to 187.4 on the IIP in September. While mining saw a 4.6% jump to 99.5, manufacturing posted a 1.8% rise to 134.3..

Source : AIR