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

1 .

Who has announced plans to invest $3 billion to build India's first display manufacturing plant?

A)

Manu Exports

B)

Rajesh Exports

C)

Sundhar Exports

D)

Maharshi Exports

Correct Answer : Rajesh Exports

Rajesh Exports, a gold retailer based in Bangalore, has announced plans to invest $3 billion to build India’s first display manufacturing plant. This is a major revolutionary investment as Display manufacturing Industry has traditionally been absent from India’s diverse electronics manufacturing industry. As the world steadily recovers from the chip shortage, countries all around the world are enacting measures to stimulate domestic semiconductor manufacturing investment.

Telangana IT Minister K T Rama Rao along with Chairman of Rajesh Exports Rajesh Mehta announced setting up of Generation 6 AMOLED Display FAB, an official release said here on Sunday(12th June 2022).

* Telangana’s government has declared that a business called Rajesh Exports will build India’s first display manufacturing plant in the state. They have put around $3 billion on this.

* The facility will be set up by Elest, a business that makes screens for cellphones and electric vehicles.

* Many programmes, such as the PLI plan, have been created by the Indian government to encourage enterprises to produce domestically in India.

* Telangana has positioned India as a global leader in advanced high-tech manufacturing.

* The things that was previously only possible in Japan, Korea, and Taiwan will now be possible in Telangana, to build a large-scale ecosystem of partners and ancillaries capable of supplying world-class television, smartphone, and tablet manufacturers.

Telangana IT Minister K T Rama Rao tweeted : "Historic day for Telangana. Rajesh Exports (Elest), a Fortune-500 company, to setup India's first Display FAB to manufacture the most advanced AMOLED displays, with an investment of Rs 24,000 crore, making it one of the largest investments in high-tech manufacturing sector in India."..

Source : Business Standard

2 .

How many crores of Bharat FIH receives SEBI's approval for public offering?

A)

â‚¹3,000 crore

B)

â‚¹3,400 crore

C)

â‚¹4,350 crore

D)

â‚¹5,000 crore

Correct Answer : â‚¹5,000 crore

The largest electronic manufacturing services (EMS) provider in India, Bharat FIH has received market regulator Sebi's approval for an initial public offering (IPO) aggregating to â‚¹5,000 crore.

Bharat FIH is a subsidiary of FIH Mobile a leading manufacturing services provider for the mobile handset industry, which is a part of Foxconn Technology Group. The company makes devices for Xiaomi and Nokia.

Bharat FIH had filed its draft prospectus in December last year, to raise â‚¹5,003.8 crore from the IPO. The IPO size comprises a fresh issue worth â‚¹2,501.9 crore and an offer for sale up to â‚¹2,501.9 crore by Wonderful Stars.

As per Sebi's latest update, the regulator issued an observation letter on June 10, to Bharat FIH.

Under the IPO, 75% of the offer is reserved for qualified institutional buyers, while 15% of the size is allotted for non-institutional investors and the remaining 10% for retail individual investors.

Kotak Mahindra Capital, Citigroup Global Markets, BNP Paribas, and HSBC Securities and Capital Markets are acting as the book-running lead managers..

Source : Mint

3 .

China's Tencent buys stake worth_____crore in Flipkart from Binny Bansal.

A)

â‚¹2,060

B)

â‚¹3,000

C)

â‚¹4,720

D)

â‚¹5,450

Correct Answer : â‚¹2,060

Chinese technology conglomerate "Tencent" has bought stake worth USD 264 million (about â‚¹2,060 crore) in Flipkart from its co-founder Binny Bansal through its European subsidiary, according to official documents.

Singapore-headquartered e-commerce firm Flipkart has operations in India only.

Bansal holds around 1.84 per cent stake in Flipkart after selling part of his stake to Tencent Cloud Europe BV.

The transaction was completed on October 26, 2021 and was shared with the government authorities at the beginning of the current financial year.

Post the transaction, Tencent arm holds 0.72 per stake in Flipkart which is valued at around USD 264 million, as per last valuation of USD 37.6 billion disclosed by the e-commerce firm in July 2021.

The company's valuation surged to USD 37.6 billion after raising USD 3.6 billion (about â‚¹26,805.6 crore) in funding round led by Singapore's sovereign wealth fund GIC, CPP Investments, SoftBank Vision Fund 2 and Walmart..

Source : Mint

4 .

Which Company installed Asia's largest 20 MWp solar plant at Manesar?

A)

Toyota

B)

Hero MotoCorp

C)

Maruti Suzuki

D)

Hyundai Motor Company

Correct Answer : Maruti Suzuki

Maruti Suzuki India has installed a 20 MW solar carport at its Manesar, Haryana, site. The project is projected to provide the organisation with 28,000 MWh of electricity per year.

According to the firm, the energy generated by this initiative will be similar to the energy required to create nearly 67,000 cars every year. This is Asia’s largest solar carport, according to the business..

Source : F T L

5 .

Airtel Payments Bank has partnered with ________ Finance to offer gold loans through Airtel Thanks app.

A)

Bajaj Finserv

B)

Muthoot Finance

C)

Manappuram Finance Limited

D)

Mahindra Finance

Correct Answer : Muthoot Finance

Airtel Payments Bank has partnered with Muthoot Finance to offer gold loans through Airtel Thanks app.

There will be no-processing charge on the loan.

Muthoot Finance will provide up to 75% of the pledged gold value as a loan.

The loan facility will be available at the 5 lakh banking points for Airtel Payments Bank.

Gold Loans are secured loans that can be availed to cater to a variety of needs, from personal to professional.

Source : F T L

6 .

India's digital payments market will be tripled to ______ by 2026.

A)

$5 trillion

B)

$7 trillion

C)

$10 trillion

D)

$20 trillion

Correct Answer : $10 trillion

According to the latest study which was conducted by digital payments firm PhonePe and Boston Consulting Group (BCG) states that India's digital payment market is expected to more than triple to $10 trillion by 2026.

Presently, 40% of all transactions in India are digital, and payments worth $3 trillion were processed by digital instruments in 2021.

India's UPI continues to grow, clocking $5.95 billion transactions worth Rs $10.41 lakh crore in May 2022..

Source : F T L

7 .

Who is the youngest woman entrepreneur to win the Times Business Award 2022?

A)

Supriya Paul

B)

Radhika Aggarwal

C)

Falguni Nayar

D)

Rashmi Sahoo

Correct Answer : Rashmi Sahoo

Director of Ruchi Foodline, Eastern India’s leading food brand and Odisha’s No.1 spices company, Rashmi Sahoo has been presented the Times Business Award 2022. She was given the award by renowned Bollywood actor and social activist "Sonu Sood".

The award was given in the category of Eastern India’s Leading READY -TO-EAT brand.

About the Rashmi Sahoo :

* While working as director of Ruchi Foodline, she started and established Frozit – Odisha’s first frozen food company.

* She not only revolutionized the food processing segment in Odisha but also changes the lives of thousands of women by proving employment opportunities.

* Sahoo and Frozit have won various accolades across the world for their innovative food product line, quality and hygiene standards.

About Frozit :

* Gradually Frozit has made a name of itself nationally and internationally in the category of ready to eat food and bakery and which are not only healthy but also cost-effective.

* Frozit now serves various food of India as well as traditional Odia foods like Biryani, Pasta, Ghee-Rice, Mutton Kasa, Laccha Paratha, Mughlai Chicken, Veg Pulao, Kadai Soyabin, Chana Masala, Friend Rice, Tandoori Mushroom, Garlic Mushroom, Zeera Rice, Mix Veg, Pada Pitha, and Kheer.

8 .

Who launched the first-of-its-kind B2B digital marketplace for exporters, MSMEs and farmers?

A)

FIEO

B)

ECGC

C)

FICCI

D)

FSSAI

Correct Answer : FIEO

The Federation of Indian Export Organisations (FIEO) has launched the first-of-its-kind online marketplace for Indian exporters and foreign buyers. The marketplace – Indian Business Portal – will act as a B2B digital marketplace to help micro, small and medium enterprises (MSME) exporters, artisans and farmers to identify new markets for their products and grow their sales globally. Minister of State for Commerce & Industry Anupriya Patel, was present at the launch.

The marketplace has been designed and developed in partnership with GlobalLinker, which already provides a business networking platform for SMEs and startups. The portal will digitize Indian exporters and help them become discoverable online, promote exports from all Indian states, and showcase a wider range of products and services. More than 2,000 small businesses have already joined, listing over 40,000 products and services. FIEO will promote the marketplace worldwide..

Source : Money Control

9 .

Who withdrew the recognition granted to Indian Commodity Exchange Limited (ICEX)?

A)

IRDA

B)

SEBI

C)

NSDL

D)

NABARD

Correct Answer : SEBI

* SEBI has withdrawn the recognition granted to the Indian Commodity Exchange Limited (ICEX).

* The withdrawal of recognition follows an order passed by SEBI on May 10 after finding the bourse non-compliant on several grounds like net worth and infrastructural requirements.

* After this, the ICEX has been directed to transfer the money available in the Investor Protection Fund and Investor Services Fund of ICEX to Sebi's Investor Protection and Education Fund.

Source : Economic Times

10 .

Which company has launched 'Loan Against Shares' an end-to-end integrated digital financial offering?

A)

Tata Capital Ltd

B)

LIC Housing Finance

C)

L&T Financial Services

D)

Bajaj Finserv Ltd.

Correct Answer : Tata Capital Ltd

The Tata Capital Ltd has launched ‘Loan Against Shares’ an end-to-end integrated digital financial offering.

Aims : To provide customers with an easy and seamless experience

Through this facility the customers can avail loans up to â‚¹5 crores by simply pledging their dematerialised shares online, facilitated by NSDL.

The loan amount can be customized based on the value of shares in the portfolio of the customer..

Source : Mint