Indian Economy & Current Business Happenings Latest MCQs October 2012-Current Events

Economy and Business Practice Question Set

1) The Govt. recently denied permission to Parsian bank to open its branch in India.This bank belongs to

1) Afghanistan

2) Iran

3) Pakistan

4) Syria

Ans 2

2) Which of the following banks announced that it would reduce term deposits rates by 50-100 basis points(bps) across tenures with effect from September 7, 2012?

1) Bank of Baroda

2) Canara Bank

3) Punjab National Bank

4) State Bank of India

Ans 4

3) The expert committee on General Anti Avoidance Rules(GAAR) in September 2012, advocated postponement of the controversial tax provision by three years till  2016-17 along with abolition of capital gains tax on transfer of securities. This committee is headed by

1) Montek SIngh Ahluwalia

2) Parthasarthi Shome

3) Kaushik basu

4) C. Rangarrajan

Ans 2

4) The Supreme court of India on September 6, 2012 held that Indian courts have no jurisdiction to pass interim orders in foreign arbitration awards between an Indian company under the provisions of the Indian Arbitration and conciliation Act?

1) 1999

2) 2000

3) 1996

4)1990

Ans 3

5) The Reserve Bank of India in September 2012 allowed company in the infrastructure sector to raise E external commercial borrowings(ECB) up to a maximum period of how many years for importing capital goods?

1) 5 years

2) 3 years

3) 4 years

4) 6 years

Ans 1

6) As per the tax collection figures released by the finance Ministry in September 2012 gross direct tax collection during the April-August this fiscal grew by a mere

1) 7%

2) 5.5%

3) 6.5%

4) 4%

Ans 3

7) The Central govt, in September 2012 announce its approval to a foreign direct investment (FDI) proposal of Cloverdell investments Ltd. envisaging a forex inflow worth Rs 808.06 Crore. This Firm is based in 

1) Britian

2) Sweden

3) Luxembourg

4) Mauritius

Ans 4

8) The cabinet committee on Economic affairs  in September 2012 approved how much foreign direct investment(FDI) in the aviation sector allowing foreign carriers to pick up stake in domestic airlines?

1) 50%

2) 49%

3) 51%

4) 33%

Ans 2

9) The IIP(Index of Industrial production) data released in September 2012, industrial production in July 2012 witnessed a dismal overall expansion of 0.1 percent, mainly owing to a sector continuing to be a laggard. Which is that sector?

1) Services

2) Manufacturing

3) Infrastructure

4) All of the above

Ans 2

10) The Cabinet committee of economic affairs(CCEA) in September 2012 approved 49% foreign direct investment(FDI) in power trading exchanges. Who heads the CCEA?

1) Finance Minister

2) Deputy Chairman, Planning commission of India

3) Governor of Reserve bank of India

4) Prime Minister

Ans 4

11) The Reserve Bank of India in September 17, 2012 retained the indicative policy rates at the current level while cutting the cash reserves ratio(CRR) by 25 basis points to

1) 5%

2) 4.50%

3) 3%

4) 2%

Ans 2

12) Which of the following state run companies announced in September 2012 to have drawn up a perspective Plan 2030 to invest Rs 11 lakh crore over the 18 years?

1) ONGC

2) NTPC

3) Indian oil

4) SAIL

Ans 1

13) The Tata Steel in September 2012 ruled out the possibility of an immediate exit from Dhamra port in 

1) Odisha

2) Goa

3) Gujarat

4) Andhra Pradesh

Ans 1

14) The Central govt. in September 2012 gave approval for the appointment of Ramesh Abhishek as chairman of commodity markets regulator forward Markets Commission(FMC) . FMC regulates how many nationals exchanges?

1) seven

2) Six

3) Five

4) Three

Ans 3

15) As per the "IRDA(Issuance of capital by General Insurance companies) Regulations", 2012 released in September 2012 general insurance companies will be allowed to tap the capital market only if they have completed how many years in business?

1) 12 years

2) 10 years

3) 7 years

4) 5 years

Ans 2

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