Current Affairs - Economy

Exercise :: Economy - Latest Current Affairs

  • Economy - Latest Current Affairs
21. 

RBI has decided to extend the enhanced borrowing facility provided to banks till which date to meet the liquidity shortage in the midst of the economic crisis caused by the coronavirus epidemic?

A. November 30, 2020
B. December 30, 2020
C. October 30, 2020
D. September 30, 2020

Answer: Option D

Explanation:

In exercise of power conferred under the Section 24 of the Banking Regulation Act, 1949, India's central bank, the Reserve Bank of India (RBI) has decided to extend the enhanced borrowing facility provided to banks till September 30, 2020 to meet the liquidity shortage in the midst of the economic crisis caused by the coronavirus (COVID-19) epidemic.

22. 

Government has notified the new Floating Rate Savings Bonds, 2020 Scheme in place of 7.75% Savings Bonds, 2018. What is the new intrest rate?

A. 7.35%
B. 6.15%
C. 6.75%
D. 7.15%

Answer: Option D

Explanation:

Government has notified the new Floating Rate Savings Bonds (FRSB), 2020 (Taxable) Scheme in place of 7.75% Savings (Taxable) Bonds, 2018, with effect from July 1, 2020. The 7.75% Savings (Taxable) Bonds, 2018 Scheme was ceased for subscription from the close of banking business on May 28, 2020. The Floating Rate Savings Bonds, 2020 (Taxable) Scheme is going to issue a floating rate, taxable savings bond for an initial coupon of 7.15%, payable on January 1, 2021.

23. 

IMF in the June 2020 update "A Crisis Like No Other, An Uncertain Recovery" of its flagship World Economic Outlook, has predicted that the Indian economy will have how much percent contraction in 2020?

A. 2.5 %
B. 3.5 %
C. 5.5 %
D. 4.5 %

Answer: Option D

Explanation:

The International Monetary Fund (IMF) in the June 2020 update "A Crisis Like No Other, An Uncertain Recovery" of its flagship World Economic Outlook (WEO), has predicted that the Indian economy will have a big 4.5 % contraction in 2020 and it will come down to a historic low. This historical decline will be the lowest level since 1961 due to the Coronavirus (covid-19) epidemic, its prevention measures and slowdown of economic activity.

24. 

Who launched the Credit Guarantee Scheme for Sub-ordinate debt which is also called the "Distressed Assets Fund-Sub-ordinate Debt for MSMEs" to provide Rs 20000 crore guarantee cover to two lakh MSMEs?

A. Raj Nath Singh
B. Nitin Gadkari
C. Harsimrat Kaur Badal
D. Amit Shah

Answer: Option B

Explanation:

Nitin Gadkari(Minister of Micro Small and Medium Enterprises) launched the Credit Guarantee Scheme for Sub-ordinate debt(CGSSD) which is also called the "Distressed Assets Fund-Sub-ordinate Debt for MSMEs" to provide Rs 20000 crore guarantee cover to two lakh MSMEs.

25. 

In accordance with the India Ratings and Research, India's Gross domestic Product is likely to shrink by what percent in FY20-21?

A. 5.3%
B. 3.3%
C. 4.3%
D. 2.3%

Answer: Option A

Explanation:

In accordance with the India Ratings and Research (Ind-Ra), India's Gross domestic Product (GDP) is likely to shrink by 5.3% in FY20-21, the lowest GDP growth in the Indian history. It will contract in each quarter in FY21 (April 2020 to March 2021). For FY21-22, it is expected that GDP growth would bounce back in the range of 5-6%.