Exercise :: Economy - Latest Current Affairs
- Economy - Latest Current Affairs
| 1. | Which market regulator has signed a bilateral memorandum of understanding (MoU) with Kazakhstan-based Astana Financial Services Authority (AFSA) for mutual co-operation and technical assistance? |
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Answer: Option C Explanation: Markets regulator SEBI (Securities and Exchange Board of India) has signed a bilateral memorandum of understanding (MoU) with Kazakhstan-based Astana Financial Services Authority (AFSA) for mutual co-operation and technical assistance. The MoU was signed by SEBI Chairman Ajay Tyagi and the acting chief executive officer (CEO) of AFSA Mukhtar Bubeyev.
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| 2. | Operation twist is a move of which bank to buy and sell government securities? |
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Answer: Option A Explanation: On December 23, 2019, the Reserve Bank of India will buy and sell government securities of Rs 10,000 crores under a special Open Market Operation. Such moves are implemented by the federal bank in order to bring down the interest rates of long-term securities. This time RBI has named its move as "Operation Twist".
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| 3. | Which bank became the third company in India to achieve $100 billion market capitalization? |
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Answer: Option C Explanation: HDFC Bank Ltd has crossed the $100 billion market capitalization (M-Cap) in intraday trading, thus becoming only the third company in India to achieve this milestone. However, it closed below $100 billion mark at $99.5 billion. HDFC is one of India's largest private-sector lenders.
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| 4. | What is the minimum unit size of Bharat Bond ETF issued by Edelweiss Asset Management Company? |
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Answer: Option B Explanation: Edelweiss Asset Management Company has issued the first Bharat Bond ETF, the corporate bond exchange-traded fund in the country. The bond issue will close on 20 December 2019. The investors can subscribe to the exchange-traded fund (ETF) with a minimum unit size of Rs.1,000.Through the ETF, Edelweiss Mutual Fund proposed to raise an initial amount of Rs.3,000 crore. It has a greenshoe option of Rs.2, 000 crore in the 3-year maturity period (2023) and Rs.4, 000 crore with a greenshoe option of Rs.6, 000 crore in the 10-year maturity bucket (2030).
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| 5. | What is the fixed uniform tax rate on both state and private lottery? |
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Answer: Option B Explanation: The Goods and Services Tax (GST) Council fixed a uniform tax rate of 28% on both state and private lottery. The 38th GST Council was chaired by the Union Finance Minister Nirmala Sitharaman in New Delhi. The new rate for the lottery will be effective from March 2020.The GST Council rationalized the tax rate on woven and non-woven bags to 18%. Exemptions have been given on long-term lease for industrial plots. It aims to facilitate the setting up of industrial parks. The panel reduced the levy of penalty for non-filing of GSTR-1 from July 2017.
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