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

1 .

Which company has awarded a five-year contract with BMW Group in the infotainment sector from August 2022?

A)

TATA

B)

L&T Technology

C)

Infosys

D)

HCL Technologies

Correct Answer : L&T Technology

Engineering services firm L&T Technology Services announced on Monday(29th Aug 2022) that it has won a five-year, multi-million-dollar deal from European luxury automaker BMW Group to provide high-end engineering services for its suite of infotainment consoles targeted for its family of hybrid vehicles.

The LTTS team of engineers will be providing services in the areas of software build and integration, infotainment validation and defect management, the company said in a statement.

"The large deal was awarded to LTTS because of its deep domain expertise and engineering leadership in transportation technologies and LTTS' proven ability to offer unique opportunities to scale up existing projects and work on new ones," it said.

LTTS said it has an existing near shore centre which provides engineering and R&D services for BMW Group's suite of infotainment consoles and its family of hybrid electric vehicles.

The proximity to BMW Group's campus will enable LTTS' engineers to work on a variety of solutions and offer services in real time, it stated..

Source : Business Standard

2 .

Indian Oil Corporation (IOC) has plans to invest how many lakh crores to achieve net-zero emissions from its operations by 2046?

A)

Rs 2 lakh crore

B)

Rs 5 lakh crore

C)

Rs 8 lakh crore

D)

Rs 12 lakh crore

Correct Answer : Rs 2 lakh crore

* India's top oil refiner, Indian Oil Corp (IOC) has planned to invest more than Rs 2 lakh crore (or $25 billion) to achieve net-zero emissions from its operations by 2046.

* The target set is in line with India's aim to reach net-zero emissions by 2070.

* IOC oil refining and petrochemicals business has a total emission of 21.5 million tonnes of carbon dioxide (CO2)

* IOC has already prepared a road map to achieve its net zero scope 1 and 2 emissions.

Source : Deccan Chronicle

3 .

Which company collaborate to deploy smart PoS devices across India with Samsung stores?

A)

PhonePe

B)

Google Pay

C)

Amazon Pay

D)

Paytm

Correct Answer : Paytm

Digital financial services firm Paytm on Tuesday(16th Aug 2022) said it partnered with Samsung stores across India to facilitate smart payments as well as its loan service Paytm Postpaid through deployment of point of sale devices.

The partnership will enable consumers purchasing Samsung devices -- laptops, smartphones, television, smart watches etc -- from any authorised store in the country to pay through Paytm payment instruments, including UPI, wallet, buy now pay later scheme, debit cards and credit cards.

"We continue to drive innovation in the offline payments market and with our PoS (Point of Sale) devices, merchants are able to drive higher customer loyalty. The partnership with Samsung stores will enable us to further extend the convenience of smart payments to a larger customer base," said Bhavesh Gupta, Paytm CEO - Lending and Head Payments.

Paytm through its postpaid or buy-now-pay-later service will provide credit limit of up to Rs 60,000 per month. It will also give customers an option to avail personal loan of up to Rs 2 lakh through financial institution partners of Paytm, according to the company statement.

Paytm claims to be the leader in offline payments, having deployed 4.1 million devices across the country as of July 2022.

Source : Business Standard

4 .

Who has authorised the issuance of up to $400 million, 5 per cent unsecured Foreign Currency Convertible Bonds (FCCBs) on a private placement basis?

A)

GMR Group

B)

Gammon India

C)

Reliance Infrastructure

D)

Hindustan Construction Company

Correct Answer : Reliance Infrastructure

The board of infrastructure company Reliance Infrastructure has authorised the issuance of up to $400 million, 5 per cent unsecured Foreign Currency Convertible Bonds (FCCBs) on a private placement basis.

The FCCBs shall be convertible into equity shares of ₹10 each of the company as per the FCCBs term, at ₹123 (including a premium of ₹113) per equity share.

The tenure of the bonds will be ten years.

Each FCCB of $1,000,000 is equivalent to ₹7.94 crore..

Source : The Hindu Businessline

5 .

What is the rank of Reliance Industries Limited (RIL) in Fortune Global 500 List 2022?

A)

96

B)

101

C)

104

D)

109

Correct Answer : 104

India's largest private business conglomerate Reliance Industries Ltd. has been ranked 104th, with $93,982 million ($93.9 billion) in revenue in 2021-22, up 49.4% from the year 2020-21. RIL's rank in Fortune's Global 500 jumped 51 spots in one year.

Reliance Industries improved its rank by 51 places to 104 from its previous year's rank of 155.

India has nine companies in the Fortune's Global 500 list -- five from the public sector, and four from the private sector..

Source : Fortuneindia

6 .

Which is the highest ranked company in India in Fortune 500 Global List 2022?

A)

ONGC

B)

LIC

C)

HDFC Bank

D)

IOCL

Correct Answer : LIC

Nine Indian public and private companies have made it to the prestigious 2022 Fortune Global 500 list, with insurance behemoth Life Insurance Corporation (LIC) of India ranking 98th on the list with revenue worth $97,266.7 million ($97.2 billion), up 2.6% YoY, in 2021-22. The company broke into the list this year after it was listed on domestic stock exchanges in May this year.

India's largest private business conglomerate Reliance Industries Ltd. has been ranked 104th, with $93,982 million ($93.9 billion) in revenue in 2021-22, up 49.4% from the year 2020-21. RIL's rank in Fortune's Global 500 jumped 51 spots in one year.

Source : Fortuneindia

7 .

How many billion transactions has reached Unified Payments Interface (UPI) in July 2022?

A)

6 billion

B)

7 billion

C)

8.5 billion

D)

10 billion

Correct Answer : 6 billion

Unified Payments Interface (UPI) transaction has reached 6 billion in July 2022, the highest ever since its inception in 2016.

According to data released by the National Payments Corporation of India (NPCI), the UPI has reported 6.28 billion transactions amounting to Rs 10.62 trillion.

Month-on-month, the volume of transactions was up 7.16% and value increased 4.76%.

Year-on-year (YoY), the volume of transactions nearly doubled while value of transactions was up 75%..

Source : Business Standard

8 .

Who has signed a contract worth over $100 million with Honeywell for HTT-40 engine?

A)

ISRO

B)

DRDO

C)

National Aerospace Laboratories(NAL)

D)

Hindustan Aeronautics Limited(HAL)

Correct Answer : Hindustan Aeronautics Limited(HAL)

Hindustan Aeronautics Limited (HAL) on Wednesday(27th july 2022) signed a contract worth over USD 100 million with Honeywell for the supply and manufacture of 88 TPE331-12B engines/kits along with the maintenance and support services to power the Hindustan Trainer Aircraft (HTT-40).

The contract was exchanged by Senior Director of OE Sales (Honeywell Defense and Space), Eric Walters, and Executive Director (E & IMGT) B Krishna Kumar, here in the presence of Chairman and Managing Director (CMD) of HAL, R Madhavan.

“HAL has successfully developed Basic Trainer Aircraft (HTT-40) to address the basic training requirements of the Indian Air Force (IAF). There is a potential requirement of 70 aircraft. The contract for the same with IAF is under advanced stage of approval,” said CMD Madhavan..

Source : The Print

9 .

Which company signs MoU with "Aarav Unmanned Systems(AUS)" for drone solutions?

A)

Tata Steel

B)

JSW Steel

C)

IISCO Steel

D)

Jindal Steel and Power

Correct Answer : Tata Steel

Domestic giant "Tata Steel" on Wednesday(27th July 2022) said it has inked a pact with a Bengaluru-based startup for drone-based mining solutions for effective mine management.

The primary goal of this collaboration is to jointly develop and offer sustainable and end-to-end integrated solutions that will focus on efficiency, safety, and productivity of open cast mining operations.

"Tata Steel has signed a Memorandum of Understanding (MoU) with Aarav Unmanned Systems (AUS), a Bangaluru-based startup, providing end-to-end drone solutions... for effective mine management," the company said in a statement.

On the partnership, D B Sundara Ramam, vice president, Raw Materials, Tata Steel, said: Drone survey enabled digitalisation and other technology will assist in gathering impactful and actionable insights..

Source : Business Standard

10 .

Who has signed an MoU with renewable energy company" Greenko ZeroC" to make green hydrogen?

A)

Coal India

B)

Hindustan Petroleum(HP)

C)

Oil and Natural Gas Corporation (ONGC)

D)

Power Grid Corporation of India(PGCI)

Correct Answer : Oil and Natural Gas Corporation (ONGC)

Oil and Natural Gas Corporation (ONGC) has signed(27th July 2022) a Memorandum of Understanding (MoU) with renewable energy company "Greenko ZeroC" to make green hydrogen, and to jointly pursue opportunities in renewables, and other derivatives of green hydrogen.

This MoU is in line with the government’s National Hydrogen Mission that aims to transform the country into a global green hydrogen hub, the company said. India is targeting to produce 5 million tonnes of green hydrogen per annum by 2030.

The energy major said that this MoU will contribute towards the mission of making Indi a green hydrogen hub.

The MoU, valid for two years, was signed between ONGC Director Onshore Anirag Sharma and Greenko CEO and Managing Director Anil Kumar Chalamalasetty, in the presence of Union Minister of Petroleum and Natural Gas & Urban Affairs Hardeep Singh Puri.

ONGC is not the first government-backed entity to enter the green hydrogen sector. In April this year, state-backed oil manufacturing company Indian Oil Corporation (IOC), engineering and construction conglomerate L&T and renewable energy company ReNew announced the signing of a term sheet to form a joint venture company to develop green hydrogen business in India..

Source : Business Today

Business and Economics - General Knowledge Questions