Taking the Economy Current Affairs Quiz will test as well as enhance your knowledge on economy related issues. Moreover the Economy Current Affairs Quiz for May 2011 will help you in the preparation for different competitive examination like that of Bank PO, MBA, NABARD, RBI, Railway, SSC, Civil Services Exam etc.
1. Which of the following bodies tightened the norms for foreign exchange risk cover in India mentioning that only companies with a networth of Rs 200 crore can use derivatives to hedge against risk of volatility in currency rates?
a. IMF
b. Reserve Bank of India
c. SEBI
d. Union Ministry of Finance
Answer: (b)
2. Which body in India finally provided tax exemption on the 9.5 per cent interest income on PF deposits for 2010-11?
a. Reserve Bank of India
b. Income Tax Department
c. Employees’ Provident Fund Organisation
d. Corporate Affairs Ministry
Answer: (b)
3. By what rate did the state oil companies hike petrol price immediately after election results wer e declared in five Indian states in May 2011?
a. Rs 5
b. Rs 5.25
c. Rs 5.50
d. Rs 5.75
Answer: (a)
4. Which ministry in India proposed in May 2011 that companies that fail to file key annual information should not be allowed to make other mandatory regulatory filings?
a. Minister of Parliamentary Affairs
b. Ministry of Corporate Affairs
c. Ministry of Commerce and Industry
d. Ministry of Finance
Answer: (b)
5. The Union Finance Ministry on 18 May 2011 decided to discontinue which of the following schemes beyond 30 June 2011 as the government is losing Rs 8000 crore on account of the scheme every year?
a. Duty Entitlement Pass Book scheme
b. Schemes of National Scheduled Tribes Finance
c. Rani Durgavati Anusuchit Jaati/ Anusuchit Jan Jaati Swarojgar Yojna
d. Akshat Yojna
Answer: (a)
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