Current Affairs - Finance

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Exercise : Finance - Latest Current Affairs
  • Finance - Latest Current Affairs
1.
What is the year-on-year growth rate of India's Gross Goods and Services Tax (GST) collections in October?
6.5%
8.9%
10.6%
12%
Answer: Option
Explanation:
India's GST collections in October surged to Rs 1.87 lakh crore, marking an 8.9% increase year-on-year. This growth is attributed to stronger domestic transactions, with domestic GST revenue growing by 10.6% year-on-year, outpacing the 3.9% growth in GST revenue from imports. The robust collection represents the second-highest level of monthly GST collections since the indirect tax regime's inception in July 2017. This rebound follows a three-year low growth rate in September, indicating a positive trend in the economy.

2.
Which fintech firm has completed its merger with North East Small Finance Bank?
Paytm
PolicyBazaar
Slice
PhonePe
Answer: Option
Explanation:
Slice, a fintech firm, has successfully merged with North East Small Finance Bank, integrating its operations, assets, and brands. Approved by the Reserve Bank of India (RBI), this merger aims to enhance customer experience, introduce new banking products, and strengthen banking services in India's northeastern region. The combined entity will offer savings accounts, credit services, and other banking products, leveraging the strengths of both organizations. Slice's CEO, Rajan Bajaj, emphasized the importance of exceptional customer experience and strong governance in the merged entity.

3.
Which region's businesses are being supported by the State Bank of India (SBI) and India Exim Bank through trade finance gap initiatives?
Southeast Asian
European
Latin American
African countries
Answer: Option
Explanation:
The State Bank of India (SBI) and India Exim Bank are addressing the trade finance gap to support businesses in African countries. This initiative aims to enhance capacity, particularly for smaller businesses, and facilitate trade by funding local banks in Africa through syndications. The Trade Assistance Programme (TAP) also supports commercial banks in financing cross-border trade. By bridging the trade finance gap, SBI and India Exim Bank promote economic cooperation and growth between India and African nations. This strategic move strengthens bilateral trade relationships and fosters business development in the region.

4.
Which international financial institution has announced a ₹2,800 crore loan for the development of Bengaluru's suburban railway?
Asian Development Bank
European Investment Bank
World Bank
International Monetary Fund
Answer: Option
Explanation:
The European Investment Bank (EIB) has committed to providing a ₹2,800 crore loan to support the development of Bengaluru's suburban railway. The announcement was made by EIB Vice President Nicola Beer and Karnataka Rail Director Awadhesh Maheta at the Urban Mobility India conference in Gandhinagar. The loan will be disbursed over five years, contributing to India's urban mobility and workforce inclusivity goals. Notably, India is the largest EIB transport financing recipient outside Europe, reflecting the country's focus on upgrading its transportation infrastructure. This investment aims to enhance Bengaluru's connectivity, reduce congestion, and promote sustainable urban growth.

5.
What is the new maximum limit for Mudra loans under the Pradhan Mantri Mudra Yojana (PMMY) as per the Union Budget 2024-25?
Rs 12 lakh
Rs 20 lakh
Rs 25 lakh
Rs 15 lakh
Answer: Option
Explanation:
The Union Budget 2024-25 raised the Mudra loan limit under the Pradhan Mantri Mudra Yojana (PMMY) from Rs 10 lakh to Rs 20 lakh. This increase includes the introduction of a new "Tarun Plus" category, aimed at supporting entrepreneurs who have successfully repaid previous loans under the "Tarun" category. Loans up to this amount are also covered by the Credit Guarantee Fund for Micro Units, helping to boost credit access and financial support for small business owners and micro-entrepreneurs.