CURRENT AFFAIRS ON FINANCE

1. According to the first mid-quarter review of RBIs Monetary Policy, 2011-12, an initiative was taken moderate inflation and check inflationary expectations. What was the initiative? a. Hike in Repo Rate(a). Hike Answer: b. Hike in Reverse Repo Rate c. Hike in Bank Rate d. Hike in Cash Reserve Ratio

in Repo Rate

2. In June 2011, what has been done by the government of India to benefit the exports sector?

Answer: (b) Extension of tax incentive a. Reduction of tax incentive scheme for exporters scheme for exporters
b. Extension of tax incentive scheme for exporters c. Reduction of tax incentive scheme for importers d. Extension of tax incentive scheme for importers

3. Which of the following banks recently signed a $132 million loan agreement with the Indian government for strengthening Bihars power sector? a. Asian Development Bank (ADB) b. World Bank (a) Asian Development Bank Answer: c. City Bank (ADB) d. None of the above

4. Which of the following is/are correct according to the mid-quarter review of RBIs 2011-12 Monetary Policy? a. Reverse repo rate (short term borrowing rate) became 6.5% b. Marginal Standing Facility rose to 8.5% c. Hike in Answer: (short term the above (by 25 repo rate (d) All of lending rate basis points to 7.5% d. All of the above

5. Which of the following was/were declared to be delisted by the Tata Steel? a. Tata BlueScope Steel b. Riversdale Mining Answer: (b) Riversdale c. Both the above companies d. None of the above

Mining

guidelines for Public Financial Institutions (PFIs) permitting private companies, primarily engaged in infrastructure funding, to attain the status of a PFI. Which of the following conditions is not required for the company to attain PFI status? a. A company should be established under a special Act or the Companies Act b. The companys main business should be related to power equipment construction & power related activities. c. The company must be in existence for at least 3 Answer: financial The companys main years and their (b) statement should show that business should be related to power their income from the area exceeds 50 per cent of their income. equipment construction & power related d. The companiesactivities. a net-worth of Rs should have 1,000 crore.

7. Which body on 3 June 2011 permitted Urban cooperative banks (UCBs) to give loans to self help groups (SHGs) to promote financial inclusion in the country? a. Ministry of Finanace b. RBI c. NABARD Answer: d. CCI

(b) RBI

8. India has became a part of $ 10 billion Gas pipeline project, the project is backed by(1) Russia (2) U. S. A. (3) England (4) Japan

Answer: (2)U .S .A.

9. According to Union Budget (2011-12), financial helps for Metro projects in Delhi, Mumbai Bangalore, Kolkatta and _____. (1) Ahmedabad (2) Kanpur (3) Pune (4) Chennai

Answer: (4)Chennai

10. Consider the following statements about Economic Survey (2010-11) Which of the above statements are true? (a) Financial Inclusion: Broaden savings, integrated it into system to boost growth (b) Fiscal Deflect: Introduction of GST Crucial to raise revenues, narrow gap (C) Human Development: Strike free-a year of relative peace in industrial relations (1) Only (a) (2) Only (b) (3) Only (c)

Answer: (4)All of the above

(4) All of the above

11.Which of the following airways company has been acquired by South Indiss Sun Group? (1) Spice Jet (2) IndiGo (3) Go Air (4) Jet Airways

Answer: (1)Spice Jet

12. IMPS is a new term being used in banking sector Its full form is (1) Indian Money Payment Service (2) Interbank Mobile Payment Service Answer: (2)Interbank Mobile (3) International Money service Service Payment (4) International Mobile Payment Service

Payment

13. Which of the following economy has been rated as

the freest economy in the world for the 17th consecutive year? (1) Singapore (2) Hong Kong (3) United States (4) South Korea

Answer: (2)Hong Kong

14.What was the initial growth target of the eleventh plan (2007-08 to 2010-11) on an average a year? a)7% b)8% c)9% d)10%

Answer: (c)9%

4. The 218-km Chainsa-Sultanpur-Neemrana pipeline was commissioned on 9 April 2011. Which of the following built the pipeline? a. RIGZONE b. GAIL (India) c. High - Tech Group of Companies Answer: (b) GAIL d. Max Engineering

(India)

16. What is correct regarding FDI in the financial year 2010-11? a. FDI was stagnant in comparison with the financial year 2009-10 b. FDI by Indian firms jumped more than two-folds in Answer: (b) FDI by Indian firms jumped financial year 2010-11

more than two-folds in financial year 2010-11 c. FDI dipped tremendously

d. None of the above

17. Food inflation in India eased to its seven week low at 7.61 percent for the week ended 25 June 2011. The reason behind decrease in inflation is cheaper pulses and vegetables. Who released the data? a. The WPI (Wholesale Price Index) b. FICCI

Answer: (a) The WPI (Wholesale Price c. Commerce Ministry ofIndex) India
d. Finance Ministry of India

18. How much custom duty is to be paid on 10 gram of gold as per 2010-11 budget ? (A) Rs. 100 (B) Rs. 200 (C) Rs. 300 (D) Rs. 500

Answer: (c)Rs. 300

Bonus Question Who was the Finance minister during 2G spectrum license allocation?

Answer: P Chidambaram

ThANK You!