1. Markets regulator SEBI directed National Stock Exchange to pay more than Rs ________________ in the case of misuse of its co-location facility.
A. 1,000 crore B. 1,300 crore C. 123 crore D. 2025 crore E. 625 crore
Answer - Option E
Explanation:
Markets regulator SEBI directed National Stock Exchange to pay more than Rs625 crore in the case of misuse of its co-location facility. SEBI has been probing alleged lapses in high-frequency trading offered through NSE’s co-location facility. The amount, if considered with simple interest, would come to little less than Rs1,000 crore. If it involves a compound interest, the fine could amount to around Rs1,300 crore.
2. Which company has launched a recurring payment service for merchants that are working on a digital subscription model?
A. Airtel B. Paytm C. BSNL D. NPCI E. RBI
Answer - Option B
Explanation:
Paytm has launched a recurring payment service for merchants that are working on a digital subscription model. The move will allow the subscription-based businesses to collect payments from their subscribers effortlessly.
3. Global card payments brand ______________ has announced its plan of investing $1 billion in India operations over the period of next 5 years.
A. Banco Itaucard B. PayPal C. Visa D. Mastercard E. American Express
Answer - Option D
Explanation:
Global card payments brand Mastercard has announced its plan of investing $1 billion in India operations over the period of next 5 years. About $350 million of the total amount would be invested in setting up a local payments processing center as per the Reserve Bank of India’s mandate to store all payments data locally.
4. Which of the following Indian company has acquired British toy retailer ‘Hamleys’ in all cash deal (67.96 million pounds)?
A. Reliance Industries Limited B. Larsen & Toubro C. Tata Group D. Aditya Birla Group E. Airtel
Answer - Option A
Explanation:
Reliance Industries Ltd. (RIL) acquired British toy retailer ‘Hamleys’ in an all cash deal. RIL has acquired Hamleys in 67.96 million pounds (about Rs. 620 cr). With this announcement, Reliance will get hold of 100% shares of Hamleys Global Holdings Limited (HGHL).
5. BharatPe– India’s first Fintech start-up enabling payments for merchants through interoperable UPI QR codes, has announced its foray into merchant services with a new app. What is the full form of UPI?
A. Unified Pending Interface B. Unified Payments Institute C. Unified Payments Interface D. Unique Payments Interface E. Unified Payments International
Answer - Option C
Explanation:
BharatPe – India’s first Fintech start-up enabling payments for merchants through interoperable UPI QR codes, has announced its foray into merchant services with a new app. Along with UPI payments, the app now allows merchants to manage their entire Bahi Khata and even note receivables and payables seamlessly. UPI stands for Unified Payment Interface.
6. Agriculture Insurance Company of India Limited was incorporated under the Indian Companies Act _______________.
A. 1956 B. 1961 C. 1949 D. 1969 E. 1980
Answer - Option A
Explanation:
Agriculture Insurance Company of India Limited was incorporated under the Indian Companies Act 1956 on 20th December, 2002 with an authorised share capital of INR 15 billion and paid up capital of INR 2 billion. AIC commenced business from 1st April, 2003.
7. Recommendations of which committee, The Insurance Regulatory and Development Authority (IRDA) was constituted as an autonomous body to regulate and develop the insurance industry?
A. Sivaraman Committee B. Malhotra Committee C. Rangarajan Committee D. Mehta Committee E, Reddy Committee
Answer - Option B
Explanation:
Following the recommendations of the Malhotra Committee report, in 1999, the Insurance Regulatory and Development Authority (IRDA) was constituted as an autonomous body to regulate and develop the insurance industry. The IRDA was incorporated as a statutory body in April, 2000.
8. What was the authorised capital of Agriculture Insurance Company of India Limited (AIC)?
A. Rs. 1000 Crores B. Rs. 2000 Crores C. Rs. 1500 Crores D. Rs. 500 Crores E. Rs. 100 Crores
Answer - Option C
Explanation:
Agriculture Insurance Company of India Limited (AIC) has been formed at the behest of Government of India, consequent to the announcement by the then Hon'ble Union Finance Minister in his General Budget Speech FY 2002-03 that, "to subserve the needs of farmers better and to move towards a sustainable actuarial regime, it was proposed to set up a new Corporation for Agriculture Insurance". Authorised Share Capital of AIC was Rs. 1500 Crores.
9. Which of the following is/are functions and duties of IRDAI?
A. Registering and regulating insurance companies B. Protecting policyholders’ interests C. Licensing and establishing norms for insurance intermediaries D. Promoting professional organisations in insurance E. All of the above are functions and duties of IRDAI
Answer - Option E
Explanation:
Section 14 of the IRDA Act, 1999 lays down the duties, powers and functions of IRDA. Registering and regulating insurance companies. • Protecting policyholders’ interests. • Licensing and establishing norms for insurance intermediaries. • Promoting professional organisations in insurance. • Regulating and overseeing premium rates and terms of non-life insurance covers. • Specifying financial reporting norms of insurance companies. • Regulating investment of policyholders’ funds by insurance companies. • Ensuring the maintenance of solvency margin by insurance companies. • Ensuring insurance coverage in rural areas and of vulnerable sections of society.
10. Where is the Registered Office of Agriculture Insurance Company of India Limited?
A. Hyderabad B. Chennai C. Mumbai D. New Delhi E. Kolkata
Answer - Option D
Explanation:
Registered Office and Head Quarters of Agriculture Insurance Company of India Limited is in New Delhi.
11. Insurance Regulatory and Development Authority (IRDA) was set up as autonomous body under which act?
A. IRDA Act, 1996 B. IRDA Act, 1999 C. IRDA Act, 2000 D. IRDA Act, 2002 E. IRDA Act, 1995
Answer - Option B
Explanation:
Insurance Regulatory and Development Authority (IRDA) set up as autonomous body under the IRDA Act, 1999.
12. Yury Trutnev has addressed a gathering of businesspersons and industrialist in Mumbai and invited Indian Investments in the Russian Far East. Who is Yury Trutnev?
A. Deputy Prime Minister of Russia B. Prime Minister of Russia C. Deputy President of Russia D. President of Russia E. President of the Central Bank of Russia
Answer - Option A
Explanation:
The Deputy Prime Minister of Russia Yury Trutnev addressed a gathering of businesspersons and industrialist in Mumbai and invited Indian Investments in the Russian Far East. India Russia business tie has been hugely tilted favouring defence sector traditionally. Deputy Prime Minister of Russia Yury Trutnev will meet External Affairs Minister S Jaishankar.
13. Indian Coast Guard (ICG) co-hosts 12th Capacity Building workshop with Regional Cooperation Agreement on Combating Piracy and Armed Robbery against Ships in Asia (ReCAAP) Information Sharing Centre (ISC) in-
A. Jaipur B. Ahmedabad C. New Delhi D. Bengaluru E. Kochin
Answer - Option C
Explanation:
Indian Coast Guard (ICG) co-hosts 12th Capacity Building workshop with Regional Cooperation Agreement on Combating Piracy and Armed Robbery against Ships in Asia (ReCAAP) Information Sharing Centre (ISC) in New Delhi.
14. Who has been unanimously elected as the 17th Lok Sabha Speaker?
A. Dushyant Singh B. Om Birla C. Arjun Ram Meghwal D. Manoj Rajoria E. CP Joshi
Answer - Option B
Explanation:
Om Birla, a two-time Bharatiya Janata Party (BJP) member of Parliament (MP) from Rajasthan, is set to be unanimously elected as the 17th Lok Sabha Speaker. Om Birla was elected to the 17th Lok Sabha from the Kota-Bundi constituency.
15. Who has recorded the worst bowling figures in a ICC World Cup Match after conceding 110 runs in 9 overs against England?
A. Mohammad Shahzad B. Shapoor Zadran C. Hamid Hassan D. Rashid Khan E. Mohammad Nabi
Answer - Option D
Explanation:
Afghanistan leg spinner Rashid Khan recorded the worst bowling figures in a ICC World Cup Match after conceding 110 runs in 9 overs against England. Previous record of conceding 105 runs in 12 overs was held by New Zealand’s Martin Snedden.