Important Current Affairs Quiz for Bank Mains Exams 2022- 02nd April

Q1. How much percent FDI in the LIC’s IPO-bound Life Insurance Corporation of India (LIC) via the automatic route has been approved by the Cabinet?
(a) 15%
(b) 33%
(c) 25%
(d) 20%
(e) None of the above

Q2. SEBI has raised the investment limit for retail investors applying in public debt securities issuance via the universal payments interface (UPI) mechanism to _______lakh from Rs 2 lakh previously.
(a) Rs 7
(b) Rs 10
(c) Rs 5
(d) Rs 4
(e) None of the above

Q3. In the Lok Sabha, Finance Minister Nirmala Sitharaman proposed a Rs 1.42 lakh crore budget for which of the state/UT for the fiscal year 2022-23?
(a) Puducherry
(b) Ladakh
(c) Karnataka
(d) Jammu and Kashmir
(e) None of the above

Q4. As per Bloomberg’s recent data on Market capitalization, for the 1st time, India’s equities market has entered the world’s top 5 in terms of market capitalization. Which nation got first rank in market capitalization?
(a) Russia
(b)USA
(c) Japan
(d) China
(e) None of the above

Q5. What is the projection of the Organization for Economic Cooperation and Development (OECD) for India’s GDP in 2022-23?
(a) 5.5%
(b) 7.8%
(c) 8.1%
(d) 9.3%
(e) None of the above

Q6. The UN Conference on Trade and Development (UNCTAD) has pegged India’s economic growth rate for 2022 to _________ percent due to the ongoing Ukraine-Russia conflict.
(a) 5.7%
(b) 6.9%
(c) 7.4%
(d) 4.6%
(e) None of the above

Q7. According to the data from the National Payments Corporation of India, India’s cashless retail transactions on the UPI platform were Rs 8.27 lakh crore in which of the month?
(a) January
(b) February
(c) March
(d) April
(e) None of the above

Q8. FinMapp, a financial services firm, announced that it has been granted a licence under the National Pension Scheme. Which of the following has granted a licence?
(a) Finance Ministry
(b) RBI
(c) PFRDA
(d) SEBI
(e) None of the above

Q9. India Ratings and Research (Ind-Ra) has revised downwards the GDP growth forecast for India in FY23 to 7-7.2 per cent. What was the earlier projection?
(a) 7.6%
(b) 8.1%
(c) 9.6%
(d) 10.5%
(e) None of the above

Q10. The government has extended the deadline for companies to convert debt financing into equity shares by up to how many years?
(a) 5
(b) 10
(c) 15
(d) 7
(e) None of the above

Solutions

S1.Ans (d)
Sol. As per the sources, the Cabinet approved up to 20% FDI in the LIC’s IPO-bound Life Insurance Corporation of India (LIC) via the automatic route on Saturday, February 26.

S2.Ans (c)
Sol. The Securities and Exchange Board of India (SEBI) has raised the investment limit for retail investors applying in public debt securities issuance via the universal payments interface (UPI) mechanism to Rs 5 lakh from Rs 2 lakh previously.

S3.Ans(d)
Sol. In the Lok Sabha, Finance Minister Nirmala Sitharaman proposed a Rs 1.42 lakh crore budget for the union territory of Jammu and Kashmir for the fiscal year 2022-23.

S4.Ans (b)
Sol. The US topped the ranking with an overall market cap of USD 47.32 trillion, followed by China (USD 11.52 trillion), Japan (USD 6 trillion) and Hong Kong (USD 5.55 trillion).

S5.Ans(c)
Sol. The Organization for Economic Cooperation and Development (OECD) has retained the outlook for India’s real gross domestic product (GDP) at 5.5% in FY24, lower than 8.1% in 2022-23.

S6.Ans(d)
Sol. The UN Conference on Trade and Development (UNCTAD) has pegged India’s economic growth rate for 2022 to 4.6 percent due to the ongoing Ukraine-Russia conflict.

S7.Ans(b)
Sol. According to the data from the National Payments Corporation of India, India’s cashless retail transactions on the UPI platform were Rs 8.27 lakh crore in February.

S8.Ans(c)
Sol. FinMapp, a financial services firm, announced that it has been granted a licence under the National Pension Scheme by the Pension Fund Regulatory and Development Authority (PFRDA).

S9.Ans(a)
Sol. India Ratings and Research (Ind-Ra) has revised downwards the GDP growth forecast for India in FY23 to 7-7.2 per cent. Earlier in January, the rating agency Ind-Ra had forecast this rate at 7.6 per cent.

S10.Ans(b)
Sol. According to a news release from the DPIIT, the government has extended the deadline for companies to convert debt financing into equity shares by up to 10 years.