Current Affairs - Economy

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Exercise :: Economy - Latest Current Affairs

  • Economy - Latest Current Affairs

Union Government makes passport mandatory for bank loans of __________ and above.

A. Rs.25 cr
B. Rs.50 cr
C. Rs 30 cr
D. Rs.40 cr

Answer: Option B


The government has made providing passport details mandatory for taking loans of 50 crore rupees and above to ensure a swift action in case of fraud and prevent fraudsters from fleeing the country. Financial Services Secretary, Rajiv Kumar in a tweet for all existing loans of over 50 crore rupees, banks have been asked to collect passport details of borrowers within 45 days. The Passport details will help banks to take timely action and inform the relevant authorities to prevent fraudsters from fleeing the country. Last week, the Cabinet has approved the Fugitive Economic Offenders Bill to impound and sell assets of escapees with a view to quickly recover dues. The proposed law will also apply to defaulters who have an outstanding of Rs 100 crore or more and have escaped from the country. Several big defaulters like Nirav Modi, Mehul Choksi, Vijay Mallya and Jatin Mehta have fled the country putting the recovery mechanism in quandary.


How many crores did Union government Sanctioned Under Swadesh Darshan Scheme And Rs. 687.92 Crore Under PRASHAD Scheme?

A. 5638
B. 8512
C. 1509
D. 2800

Answer: Option A


A total amount of Rs. 5638.87 crore was sanctioned with the release of Rs. 2148.17 crore since 2014-15 till date under the Swadesh Darshan Scheme of Ministry of Tourism. Under the Swadesh Darshan scheme, thirteen thematic circuits have been identified for development. Meanwhile, under the PRASHAD scheme, 23 projects have been sanctioned to 15 States for a total amount of Rs.687.92 crore with the release of Rs.241.28 crore since 2015-16 till date. The main objective of the 'National Mission on Pilgrimage Rejuvenation and Spiritual, Heritage Augmentation Drive (PRASHAD) is of holistic development of identified pilgrimage and heritage destination.


What is the India's GDP growth rate forecast for year 2018, as per latest report by Moody's Investors Service?

A. 7.6 %
B. 7.7 %
C. 7.5 %
D. 7.8 %

Answer: Option A


Moody's Investors Service has recently estimated India's GDP growth forecast for year 2018 & 2019. In it, it has kept the GDP growth forecast for India in the calendar year 2018 unchanged at 7.6 % and for 2019 at 7.5 %, amid signs of economic recovery from the negative impact of demonetisation and disruption caused by GST roll out. In its global growth forecasts for 2018 and 2019, Moody's said the Budget for fiscal year beginning April 1 (2018-19) includes some measures to stabilize rural economy that was disproportionately hit by scrapping of high denomination 500 and 1000 rupee notes.


What is the GDP rate of India in 2016-17 from 8.2% in 2015-16?

A. 7.1%
B. 7.2%
C. 7.5%
D. 7.8%

Answer: Option A


According to the CSO's revised estimates of national income released on January 31, 2018, gross domestic product (GDP) growth rate for 2015-16 stood at 8.2% from the earlier estimates of 8% while for 2016-17, revised GDP growth remained unchanged at 7.1%. For 2015-16, this is the second revised estimate, while for 2016-17, this is the first revised estimate. Revised estimates are arrived at by taking into consideration a wider range of numbers, including employment data.


How many millions go missing in largest cryptocurrency hack ever?

A. 500
B. 250
C. 380
D. 650

Answer: Option A


Japanese cryptocurrency exchange Coincheck has confirmed it lost about $524 million after suffering a hack which stole 500 million NEM tokens It is the biggest cryptocurrency hack ever. NEM, the 10th-largest cryptocurrency by market value, fell 11% over a 24-hour period following the hack. The previous largest theft was pegged at $450 million in 2014 from a Tokyo-based exchange.