Exercise :: Economy - Latest Current Affairs
- Economy - Latest Current Affairs
| 1. | Who launched BSE StAR MF app to help mutual fund distributors to accelerate transactions process |
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Answer: Option A Explanation: BSE (Bombay Stock Exchange) notified that it has launched an app named 'BSE StAR MF' in order to enable more participation and aid mutual fund distributors to accelerate transactions process. 'BSE StAR MF' is BSE's mutual fund platform which helps distributors in purchasing and redeeming the mutual fund units on behalf of their clients. The 'BSE StAR MF' app that is downloaded from Google Play Store supports dynamic (real-time) client registration, digital transactions, creates and uploads mandate for SIPs (Systematic Investment Plans), generates multiple orders, tracks and permits the distributor in evaluating his business instantly.
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| 2. | By what percent does the bank credit grows for the financial year 2018-19, as per the Reserve Bank of India(RBI)? |
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Answer: Option C Explanation: According to Reserve Bank of India data, the bank credit grew by 13.24 percent in financial year 2019 (FY19) to Rs 97.67 lakh crore as compared to 10.3 percent in FY18 and the deposits up by 10.03 percent in FY19 to Rs 125.72 lakh crore as compare to 6.7 percent in FY18. Additional Information According to the data available till February 2019, the credit growth in service sector was 23.7 percent and in retail sector it was 16.7 percent. Overall credit growth in the industry sector was 5.6%.
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| 3. | According to Asian Development Outlook 2019 report, what is the growth rate? |
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Answer: Option C Explanation: The Asia-Pacific region s expected to grow at 5.7% in 2019. According to the bank's Asian Development Outlook 2019 report released in April, developing Asia which comprises 45 nations ranging from China to Tuvalu is projected to grow by 5.7% in 2019. However, the growth outlook for developing Asia is expected to moderate to 5.6 % in 2020.
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| 4. | What is the revised interest rate of Employee's Provident Fund (EPF) for 2018-19? |
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Answer: Option D Explanation: The Department of Financial Services, a wing of the Ministry of Finance, has approved an Employee's Provident Fund (EPF) interest rate hike of 10 basis point to 8.65 percent for 2018-19, as decided by the retirement fund body Employee's Provident Fund Organisation (EPFO). This move will benefit more than 6 crores formal sector workers. Earlier in 2017-18, the interest rate on EPF was 8.55 percent.In February 2019, the EPFO's apex decision making body, the Central Board of Trustees headed by Labour Minister Santosh Gangwar, had decided to hike the interest rate on EPF to 8.65 percent for 2018-19 from 8.55 percent for 2017-18. This hike was the first increase in the last three years.
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| 5. | How much percent of life insurer's premium income was grown for the year 2019, as per Insurance Regulatory and Development Authority of India (IRDAI)? |
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Answer: Option D Explanation: According to the Insurance Regulatory and Development Authority of India (IRDAI) data, after a very low growth phase, life and non-life premium income of insurance companies have registered substantial growth in financial year 2019. Life insurer's premium income grew 11% in FY19 over 2018 and non-life insurance firms witnessed a 13% rise in their total premium income to Rs 1.70 lakh crore in the financial year ended March 2019. 25 are general insurers: whose collective gross premium in 2018-19 was Rs 1.50 lakh crore, up by around 13% from Rs 1.33 lakh crore in 2018. 7 are standalone private sector insurers: they had a rise of 37% in their combined premium to Rs 11,368.82 crore in the financial year ended March 2019, against Rs 8,314.27 crore in 2018. 2 are government-owned specialised insurers: among them, Agricultural Insurance Company of India and ECGC Ltd registered a dip of 7.75% in premium at Rs 8,425.75 crore during the fiscal ended March 2019, as against Rs 9,133.78 crore in 2018.
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