Business Quiz of the Week : 6 February -12 February 2014

A quiz based on the latest developments in the business world for the 6 to 12 February 2014 week. Read and know how well updated you are.

Feb 28, 2014 14:30 IST

1. The Reserve Bank of India (RBI) on 15 July 2013 imposed fines of around 49.5 crore rupees on 22 private and public sector banks including SBI, PNB and Yes Bank. The banks were fined for violation of?

a) KYC/Anti-Money Laundering Norms
b) Offering gold loans despite restrictions imposed by the RBI to curb fall in value of Rupee
c) For flouting the directions issued by RBI under section 35A of the Banking Regulation Act
d) Not maintaining the standards of Currency Chest

2. The Reserve Bank of India (RBI) on 15 July 2013 announced measures to deal with rupee volatility which includes lifting of two interest rates by 200 basis points each and a planned sale of 120 billion rupees (2 billion dollars) of Government bonds in July 2013. RBI has also adjusted the Marginal Standing Facility (MSF) and the Bank Rate to 10.25% each which were 8.25% previously. What does Marginal Standing Facility mean?

a) Marginal Standing Facility (MSF) is the rate at which banks can borrow from the central bank at an increased rate against government securities during times of tight cash
b) MSF is the rate at which banks borrow from RBI. It is an instrument of monetary policy. Whenever banks have any shortage of funds they can borrow from the RBI.
c) MSF is defined as the amount of total deposits that banks are required to keep with the central bank. If the central bank decides to increase the CRR, the available amount with the banks comes down.
d) It is the rate at which the RBI borrows money from commercial banks.

3. The Union Government of India on 16 July 2013 raised the FDI limit in Telecom Sector from 74 percent to 100 percent. The Government also declared that the FDI in the Insurance and Telecom sectors will be up to _____ percent through automatic route.

a) 56 percent
b) 49 percent
c) 51 percent
d) 74 percent

4. The Department of _________________ on 16 July 2013 launched the system of electronic transfer of funds to ensure quick and direct transfer of funds to its beneficiaries. The electronic transfer would help in bringing in more efficiency in the financial working of the department.

b) Food & Public Distribution
c) Economic Affairs
d) Commerce

5. The Union government on 17 July 2013 approved a proposal to amend SEBI Act for providing more powers to the market regulator to crack down on Ponzi schemes. Which statement/statements among the given options in form of power given to SEBI with the approval are true?

I. SEBI regulator will get direct powers to carry out search and seizure operations and for attachment of assets, as part of efforts to crackdown on ponzi schemes.
II. The SEBI would have powers to seek information, such as telephone call data records, from any persons or entities in respect to any securities transaction being probed by it.

a) Both Statements I and II both are true
b) Only statement I is true
c) Only Statement II is true
d) Both the Statements I and II are false

6. The Reserve Bank of India (RBI) on 17 July 2013 opened a window for commercial banks to meet the cash requirements of mutual funds (MFs). What is the name given to the window?

a) Mutual Fund Liquidity Window
b) Commercialized Liquidity Window
c) Special Liquidity Window
d) None of the following

7. Which stock exchange, as per the latest data by World Federation of Exchanges, regained its position as the world’s largest bourse in terms of volume in equity trade in June 2013?

a) Bombay Stock Exchange
b) National Stock Exchange
c) New York Stock Exchange
d) Nasdaq OMX

8. Morgan Stanley Mutual Fund on 18 July 2013 announced that it was launching the open-ended debt fund. Name this open-ended debt fund.

a) Morgan Stanley Open-Ended Debt Fund
b) Morgan Stanley Fund for Debtors
c) Morgan Stanley Ultra Short-Term Fund
d) Morgan Stanley Short-Term Fund

9. India and Belarus signed a protocol on 24 July 2013 to enhance trade ties during the sixth session of the Inter-Governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation held in New Delhi. Which of the following statements about Belarus are correct?

I. Belarus is a landlocked country in Eastern Europe bordered by Russia to the northeast, Ukraine to the south, Poland to the west, and Lithuania and Latvia to the northwest.
II. The parliament of the republic of Belarus declared the sovereignty of Belarus on 27 July 1990, and during the dissolution of the Soviet Union, Belarus declared independence on 25 August 1991
III. Belarus is a partner country of the EU INOGATE energy programme.
IV. A part of Belarus under Russian rule emerged as the Belorussian Soviet Socialist Republic in 1919 which merged it to form the Lithuanian–Belorussian Soviet Socialist Republic.

a) Statements I,II and III are only true
b) Statements II, III and IV are only true
c) All the statements are false
d) All the statements are true

10. The Reserve bank of India on 21 July 2013 brought down the period of realisation and repatriation for exporters of goods and software to how many months from earlier 12 months.

a) Six months
b) Seven months
c) Eight months
d) Nine months

Question No. Answer
1.  A
2.  A
3.  B
4.  B
5.  A
6.  C
7.  B
8.  C
9.  D
10.  D

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