Important Current Affairs Quiz for Bank Mains Exams 2021- 14th August |

Q1. The World Bank has projected India’s economy to grow at how much per cent in 2021?
(a) 9.6
(b) 7.9
(c) 8.9
(d) 8.3
(e) None of these

Q2. The domestic credit rating agency ICRA has projected the gross domestic product (GDP) growth rate of India for the financial year 2021-22 to 8.5 per cent year-on-year. Where is headquarter of ICRA located?
(a) Gurgaon
(b) Mumbai
(c) Chennai
(d) Bangalore
(e) None of these

Q3. Which of the following amount were the goods and service tax collections for May 2021?
(a) Rs 92,899 crore
(b) Rs 1, 11,800 crore
(c) Rs 1, 02,709 crore
(d) Rs 1, 27,560 crore
(e) None of these

Q4. The World Bank’s Board of Executive Directors has approved a how much million fund programs to support India’s nationwide initiative to revitalize the MSME sector?
(a) USD 900
(b) USD 250
(c) USD 750
(d) USD 500
(e) None of these

Q5. The wholesale price-based inflation accelerated to a record high of ________per cent in May, on rising prices of crude oil and manufactured goods.
(a) 13.94
(b) 12.94
(c) 13.74
(d) 12.74
(e) 11.74

Q6. Moody’s Investors Service has slashed India’s growth projection to how much per cent for the 2021 calendar year.
(a) 8.9
(b) 10.7
(c) 11.3
(d) 9.6
(e) None of the above

Q7. India’s retail inflation shot up to a six-month high of _______per cent in May, after easing to a three-month low of 4.23 per cent in April.
(a) 5.3
(b) 6.3
(c) 5.7
(d) 5.1
(e) None of these

Q8. According to the Organisation for Economic Co-operation and Development (OECD) what was the India’s growth projection for Financial Year 2022.
(a) 11.3%
(b) 10.2%
(c) 9.9 %
(d) 8.3%
(e) None of this

Q9. A research report “Ecowrap”, has sharply cut the GDP growth estimates for the Indian economy to 7.9 per cent in FY22. Which Bank’s economist are developed ‘Ecowrap’ report?
(a) State Bank of India
(b) HDFC Bank
(c) Reserve Bank of India
(d) Kotak Mahindra Bank
(e) None of these

Q10. The Goods and Services Tax (GST) Council has constituted a group of ministers (GoM) in order to decide on the rates of COVID-19 relief material. Who leads the group of ministers?
(a) Dr. Harsh Vardhan
(b) Conrad K Sangma
(c) Nitin Patel
(d) Anurag Thakur
(e) None of the above

Solutions

S1.Ans(d)
Sol. The World Bank has projected India’s economy to grow at 8.3 per cent in 2021 and 7.5 per cent in 2022.

S2.Ans(a)
Sol. The domestic credit rating agency ICRA has projected the gross domestic product (GDP) growth rate of India for the financial year 2021-22 to 8.5 per cent year-on-year.

S3.Ans(c)
Sol. The goods and service tax collections for May clocked Rs 1,02,709 crore, making it the eighth straight month of collections crossing the Rs 1 lakh crore mark.

S4.Ans(d)
Sol. The World Bank’s Board of Executive Directors has approved a USD 500 million programs to support India’s nationwide initiative to revitalize the MSME sector.

S5.Ans(b)
Sol. The wholesale price-based inflation accelerated to a record high of 12.94 per cent in May, on rising prices of crude oil and manufactured goods. The low base effect also contributed to the spike in WPI inflation in May 2021.

S6.Ans(d)
Sol. Moody’s Investors Service has slashed India’s growth projection to 9.6 per cent for the 2021 calendar year.

S7.Ans(b)
Sol. India’s retail inflation shot up to a six-month high of 6.3 per cent in May, after easing to a three-month low of 4.23 per cent in April.

S8.Ans(c)
Sol. The Organisation for Economic Co-operation and Development (OECD) has cut India’s growth projection to 9.9 % for Financial Year 2022.

S9.Ans(a)
Sol. SBI economists, in its research report “Ecowrap”, has sharply cut the GDP growth estimates for the Indian economy to 7.9 per cent in FY22, compared to an earlier projection of 10.4 per cent.

S10.Ans(b)
Sol. An eight-member ministerial panel under the Meghalaya chief minister Conrad K Sangma is considering Goods and Services Tax (GST) exemptions on a range of Covid-19 essentials such as vaccines, drugs, testing kits and ventilators.