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

1 .

Who has joins hands with Equitas Small Finance Bank to offer demat, trading services on 25th July 2022?

A)

Kotak Securities

B)

HDFC Securities Ltd

C)

ICICI direct

D)

Motilal Oswal Financial Services

Correct Answer : HDFC Securities Ltd

HDFC Securities Ltd on Monday(25th July 2022) announced its partnership with Equitas Small Finance Bank to provide its clients with a demat account and its broking or investment services.

With this partnership, Equitas SFB will be able to offer its customers a 3-in-1 account that helps them access the services of HDFC Securities. The stock broking company will oversee the entire journey for Equitas’ customers, from account opening to regular share transactions.

All Equitas Small Finance customers would be able open their demat and trading account for buying & selling shares and trading in futures & options/ commodities and even currencies.

For the bank, this tie-up offers an opportunity to provide its customer with additional investment avenues..

Source : Mint

2 .

Which company has signed a strategic agreement with 'Aequs' for long-term cooperation and joint business development in the aerospace sector?

A)

Vedanta Limited

B)

Hindalco Industries

C)

Hindustan Zinc

D)

Steel Authority of India

Correct Answer : Hindalco Industries

Aditya Birla Group's metals flagship Hindalco Industries and Aequs have entered into a strategic pact for long-term collaboration and joint business development in the commercial aerospace sector.

The move will strengthen the commercial aerospace business of Aequs Pvt Ltd.

"Aequs has executed strategic partnership agreement for supply of raw materials including, billets and extrusions by Hindalco Industries Ltd (Hindalco) through its manufacturing units and/or its subsidiary, Hindalco Almex Aerospace Ltd (HAAL) to be ultimately consumed by commercial aerospace OEMs," Hindalco said in a filing to BSE.

OEMs refer to original equipment manufacturers.

Given the size of Hindalco, the quantity of raw materials to be supplied to Aequs under the pact is "miniscule", it said..

Source : Business Standard

3 .

Which country Forex reserves decreased to USD 572.7 billion from USD 7.5 billion?

A)

China

B)

Russia

C)

United States

D)

India

Correct Answer : India

India’s foreign exchange reserves dropped $7.5 billion to $572.7 billion during the week ended 15th July 2022, the latest data released by the Reserve Bank of India (RBI) showed. The reserves are now at 20-month low, lowest since November 6, 2020, when they were at $568 billion.

The decline in foreign exchange reserves during the week is mainly due to foreign currency assets that were down $6.5 billion, the data showed.

Reserves have fallen about $60 billion in 2022, which was mainly due to aggressive intervention by the central bank to curb the sharp volatility in the foreign exchange market. The rupee has come under pressure since the war broke out in Europe in late February. The Indian unit has depreciated around 7 per cent against the dollar in 2022..

Source : Business Standard

4 .

Which company on 18th July 2022 said it has partnered with US-based Boston Consulting Group (BCG) to meet its decarbonization goals?

A)

JSW Steel

B)

Tata Steel

C)

Essar Group

D)

Steel Authority of India

Correct Answer : JSW Steel

JSW Steel on Monday(18th July 2022) said it has partnered with US-based Boston Consulting Group (BCG) to meet its decarbonization goals.

JSW Steel has an ambitious target of reducing its carbon emission by 42 per cent by 2029-30 versus base year 2005.

According to a ministry document, the iron and steel industry globally accounts for around 8 per cent of total carbon dioxide (CO2) emissions on an annual basis, whereas in India, it contributes 12 per cent to the total CO2 emissions.

Thus, the Indian steel industry needs to reduce its emissions substantially in view of the commitments made at the COP26 climate change conference.

Seshagiri Rao, Joint Managing Director of JSW Steel and Group CFO said, JSW Steel is partnering with BCG to accelerate its journey towards meeting emission targets..

Source : Business Standard

5 .

Which company released first annual human rights report in 2020 and 2021?

A)

Apple

B)

Google

C)

Meta(Facebook)

D)

Microsoft

Correct Answer : Meta(Facebook)

Facebook owner Meta released its first annual human rights report on Thursday(14th July 2022), following years of accusations that it turned a blind eye to online abuses that fueled real-world violence in places like India and Myanmar.

The report, which covers due diligence performed in 2020 and 2021, includes a summary of a controversial human rights impact assessment of India that Meta commissioned law firm Foley Hoag to conduct.

Human rights groups including Amnesty International and Human Rights Watch have demanded the release of the India assessment in full, accusing Meta of stalling in a joint letter sent in January.

In its summary, Meta said the law firm had noted the potential for "salient human rights risks" involving Meta's platforms, including "advocacy of hatred that incites hostility, discrimination, or violence.".

Source : India Times

6 .

Who has reportedly decided to shut down the Blockchain and Crypto Assets Council (BACC)?

A)

Cellular Operators Association of India

B)

National Internet Exchange of India

C)

Internet and Mobile Association of India

D)

National Payments Corporation of India

Correct Answer : IAMAI

The Internet and Mobile Association of India (IAMAI) has decided to shut down the Blockchain and Crypto Assets Council (BACC). In a statement, IAMAI said it is dissolving the Blockchain and Crypto Assets Council (BACC), which the association created and nurtured for four years.

“The association was forced to take the decision in light of the fact that a resolution of the regulatory environment for the industry is still very uncertain, and that the association would like to utilise its limited resources for other emerging digital sectors, which make a more immediate and direct contribution to digital India, notably, deepening financial inclusion and promoting Central Bank issued Digital Currency [CBDC],” the statement said.

In a joint statement, Chair and Co-chair of the BACC, Ashish Singhal and Sumit Gupta said, “Our stated belief as industry has always been to have sustainable dialogue with regulators and stakeholders and address concerns for progressive regulations.

Crypto experts say the nascent industry will lose a prominent policy advocacy arm with the dismantling of BACC by IAMAI.

Source : Financial Express

7 .

Which company has acquired a Danish-based life science company for around 110 million Euros (Rs 875 crores)?

A)

Tata

B)

Infosys

C)

Wipro

D)

HCL

Correct Answer : Infosys

Infosys on Wednesday(13th July 2022) said it will acquire "Denmark-based BASE life science" for about 110 million euros (Rs 875 crore) in an all-cash deal. The acquisition will deepen Infosys' expertise in life sciences domain as well as strengthen its footprint across Europe.

"This acquisition augments Infosys' deep life sciences expertise, and expands our footprint further in the Nordics region and across Europe, and scales our digital transformation capabilities with cloud-based industry solutions.

"We are excited to welcome BASE life science and its leadership team into the Infosys family," Infosys president Ravi Kumar S said..

Source : Businesstoday

8 .

Which company announced the creation of a fastest new graphics Dynamic Random-Access Memory (DRAM) Chip?

A)

Google

B)

Apple

C)

Microsoft

D)

Samsung

Correct Answer : Samsung

Samsung said on Thursday(14th July 2022) it has developed a new graphics "Dynamic Random-Access Memory (DRAM)" chip with a faster speed and improved power efficiency.

The 24-gigabit Graphics Double Data Rate 6 (GDDR6) adopts third-generation, 10-nanometer technology and boasts a data processing speed that is over 30 per cent faster than existing products, the company said in a statement.

The new DRAM chip can process graphic images at a rate of up to 1.1 terabytes per second, which Samsung claims is the fastest in the world and equivalent to processing 275 full HD movies in a second.

Graphics DRAMs are widely used in high-powered 3D games, personal computers, notebooks or devices that play videos with a high resolution.

In the future, it is also expected to be used in high performance computing, electric cars and autonomous vehicles, reports Yonhap news agency.

As the new chip meets the JEDEC industry standards, artificial intelligence and graphics companies will likely adopt it easily, Samsung added.

The JEDEC Solid State Technology Association is a semiconductor organisation in charge of standardisation of chips.

Using the so-called dynamic voltage scaling technology, the GDDR6 DRAM also improves power efficiency more than 20 percent, Samsung said..

Source : Business Standard

9 .

Which company has unveiled India's first indigenously developed lithium ion cell?

A)

OLA Electric

B)

Ather Energy

C)

Tata Power

D)

Mahindra Electric

Correct Answer : OLA Electric

Ola Electric on Tuesday(12th July 2022) unveiled India’s first indigenously developed lithium-ion cell, NMC 2170, and said it will start mass production from its upcoming Gigafactory by 2023.

“A cell is the heart of the EV revolution. Ola is building the world’s most advanced cell research center that will enable us to scale and innovate faster, and build the most advanced and affordable EV products in the world with speed,” Bhavish Aggarwal, Founder and CEO, Ola Electric, said in a statement.

“Our first indigenously made Li-ion cell is also the first of many in our cell technology roadmap. Having a robust local EV ecosystem is important for India to become a global EV hub,” Aggarwal said.

The state-of-the-art High Nickel Cylindrical Ola Cell uses NMC on the cathode side; and Graphite and Silicon on the Anode side. The use of specific chemistry and materials enables the cell to pack more energy in a given space and also improves the overall life cycle of the cell. The cell has been developed keeping the indigenous conditions at the core.

Source : The Print

10 .

The International Monetary Fund(IMF) has warned that Ukraine's economy will shrink by what percent in 2022?

A)

32%

B)

35%

C)

38%

D)

41%

Correct Answer : 35%

The International Monetary Fund(IMF) has estimated Ukraine’s GDP will collapse by 35 percent this year(2022), while Russia’s output will shrink by 8.5 percent in 2022.

But IMF Chief Economist Pierre-Olivier Gourinchas told a news briefing a tightening of sanctions against Russia to include restrictions on energy exports could double Russia’s GDP decline to 17 percent by 2023.

Spillovers from higher energy prices, a loss of confidence, and financial market turmoil would cut another two percentage points off of global growth forecasts, Gourinchas said.

The war, which Russia has described as a "special military operation", has caused a humanitarian crisis in Eastern Europe, displacing about five million Ukrainians to neighbouring countries, the IMF said..

Source : Aljazeera

Business and Economics - General Knowledge Questions