Business & Finance - Current Affairs Questions and Answers

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1)   Infosys on 17th Nov said share buyback would begin on November 30 and close on December 14. What is the size of the buyback?
- Published on 20 Nov 17

a. 15000 crores
b. 12500 crores
c. 13000 crores
d. 14000 crores
Answer  Explanation  Related Ques

ANSWER: 13000 crores

Infosys on Nov 17th said share buyback would begin on November 30 and close on December 14.

The IT services major has issued an offer letter for the buyback of shares.

It said that the necessary forms along with the letter would be dispatched to the eligible shareholders whose names appeared on the record date of November 1.

Infosys: Know More

  • Industry: IT services, IT consulting
  • Founded: 7 July 1981; 36 years ago
  • Founders:
    • N. R. Narayana Murthy
    • Nandan Nilekani
    • S. Gopalakrishnan
    • S. D. Shibulal
    • K. Dinesh
    • N. S. Raghavan
  • Ashok Arora
  • Headquarters: Bengaluru, Karnataka, India
  • Services: IT, business consulting and outsourcing services

2)   Which rating agency upgraded India's status to Baa2 in 14 years?
- Published on 20 Nov 17

a. Moody's
b. S&P
c. Crisil
d. Fitch Ratings
Answer  Explanation 

ANSWER: Moody's

Moody's Investors Service raised India's sovereign rating for the first time since 2004, overlooking a haze of short-term economic uncertainties to bet on the nation's prospects from a raft of policy changes by Prime Minister Narendra Modi.

Rupee, bonds and stocks rallied after the ratings firm upgraded India to Baa2 from Baa3 and said reforms being pushed through by Modi's government will help stabilize rising levels of debt.

That's a one-level shift from the lowest investment-grade ranking and puts India in line with the Philippines and Italy.

While government officials hailed the move as long overdue, some investors termed it a surprise given that India recently surrendered its status as the world's fastest-growing major economy amid sweeping policy change.

The upgrade could prove to be a big win for the ruling party, which is facing increasing attacks about the economic slowdown before key elections in Modi's home state next month and a national vote early 2019.

Credit Rating: Know More

  • A credit rating is an assessment of the creditworthiness of a borrower. Individuals, corporations and governments are assigned credit ratings - whoever wants to borrow money. Individuals are given 'credit scores', while corporations and governments receive 'credit ratings'.
  • National governments, not countries, are assigned credit ratings by agencies like Standard & Poor's, Moody's and Fitch.
  • Governments require ratings to borrow money. They are also given ratings on their worth as investment destinations.
  • A country requests a credit rating agency to evaluate its economic and political environment and arrive at a rating. This is done to position itself as a destination for foreign direct investment.
  • There are several criteria behind rating a government's creditworthiness. Among them are political risk, taxation, currency value and labour laws.
  • Another is sovereign risk where a country's central bank can change its foreign exchange regulations.
  • For the first time in 14 years, Moody's has upgraded India's rating to Baa2, a term that means that they consider the economy stable.
  • Standard & Poor's and Fitch too have a 'stable' rating for the country - BBB+ and BBB-, respectively.

3)   PC shipments in India witnessed what percentage of growth in September 2017 quarter as against the year ago?
- Published on 17 Nov 17

a. 20.5%
b. 19.5%
c. 20%
d. 50%
Answer  Explanation 

ANSWER: 20.5%

PC shipments in India witnessed 20.5 per cent growth in September 2017 quarter over the year- ago period to 3.03 million units, helped by strong consumer demand and special projects, research firm IDC indicated, between July and September, registering a strong quarter-on-quarter (q-o-q) growth of 72.3% and year-on-year (y-o-y) growth of 20.5%.

This comes as a big surprise, after the struggles of the PC makers in the June quarter, when shipments fell by 18.9% (q-o-q) and by 18% (y-o-y), with only 1.75 million units shipped in that quarter.

IDC analysts believe the PC OEMs are likely to hit the wall again in Q4 2017.

The India PC market in the December quarter is expected to decline due to seasonality and reduced consumer demand after the high consumer spending in the September quarter.

However, going forward, the excitement around gaming PCs and price drops after GST (goods and services tax) will remain important factors for the consumer segment.

4)   What is the nicotine replacement therapy product Glenmark launched in Nov 2017?
- Published on 17 Nov 17

a. Quitz
b. QuitQik
c. Kquitz
d. Kwitz
Answer  Explanation 


Glenmark Pharmaceuticals on 16th Nov, 2017 said it has launched nicotine replacement therapy product Kwitz that helps smokers quit smoking.prescription product, the company said in a statement.

Kwitz nicotine gum will be available in two variants of 2 mg as an OTC product 4mg as prescription product, the company said in a statement.

Kwitz nicotine gum will be available in two variants of 2 mg as an OTC product 4mg as prescription product, the company said in a statement.

While Kwitz 2 mg is for those smoking less than 20 cigarettes per day, Kwitz 4 mg is meant for smokers consuming more than 20 cigarettes per day, it added.

Kwitz is aimed at helping individuals find a sustainable way to stop smoking in an easy step-by-step process.

5)   Flipkart is launching its own smartphone. What is it called?
- Published on 16 Nov 17

a. Million Capture
b. Billion Capture
c. Billion Capture+
d. Million Capture+
Answer  Explanation  Related Ques

ANSWER: Billion Capture+

A lot of market intelligence that was acquired over a period of time by India's leading e-commerce company Flipkart is being put to test as the company's own smart phone product is going on sale under Billion Capture + brand in INR 10,000 price bracket from November 15, 2017.

Hyderabad-based homegrown technology OEM Smartron has worked on Flipkart's maiden smart phone product in terms of design and development besides getting it manufactured for the e-commerce company.

The partnership with Flipkart comes as a big breakthrough for Smartron as it has been looking for opportunities.

6)   GoI launched with ETF managed by ICICI Prudential MF on 14th November 2017?
- Published on 15 Nov 17

a. BHARAT-21
b. BHARAT-22
c. INDIA-21
d. INDIA-22
Answer  Explanation  Related Ques


The Government of India launched the BHARAT-22 Exchange Traded Fund (ETF) managed by ICICI Prudential Mutual Fund targeting an initial amount of about INR 8,000 crore on 14th Nov, 2017.

This New Fund Offer is open till November 17, 2017.

The Units of the Scheme will be allotted 25% to each category of investors. In this ETF, the Retirement Fund has been made separate category of Investors.
In case of spill-over, additional portion will be allocated giving preference to retail and retirement funds. There is a 3% discount across the board.

The strength of this ETF lies in the specially created Index S&P BSE BHARAT-22 INDEX.

This Index is a unique blend of shares of key CPSEs, Public Sector Banks (PSBs) and also the Government owned shares in blue chip private companies like Larsen & Tubro (L&T), Axis Bank and ITC.

The shares of the Government companies represent 6 core sectors of the economy-Finance, Industry, Energy, Utilities, Fast Moving Consumer Goods (FMCG) and Basic Materials.

The index has previously out-performed the NIFTY-50 and Sensex.

The Index constituents include leading Maharatanas and Navratanas such as Coal India, GAIL, Power Grid Corporation of India Ltd. (PGCIL), National Thermal Power Corporation (NTPC), Indian Oil Corporation Ltd., Oil & Natural Gas Corporation (ONGC), Bharat Petroleum, and National Aluminium Company (NALCO), three Public Sector Banks such as SBI, Bank of Baroda apart from the 3 private sector companies mentioned earlier.

Reforms and ETF

  • The Government of India is undertaking a number of Key Economic Reforms which is driving growth in these sectors of economy. The major reforms such as mentioned below for which market expert believe will fuel the growth in the economy and may benefit the underlying stocks in ETF.
  • Finance: Insolvency and Bankruptcy Code 2016, Digital and Cashless Economy, Listing of Insurance companies, Bank recapitalization and Goods and Services Tax (GST).
  • Commerce: Liberalization of Foreign Director Investment (FDI) in India
  • Oil: Direct Benefit Transfer of LPG subsidies, Introduction of Daily Fuel pricing, Consolidation of Govt. run oil companies.
  • Energy: Revival package for electricity distribution companies of India (DISCOMs).

7)   IBBI has amended which regulations to ensure due diligence?
- Published on 08 Nov 17

a. Corporate Insolvency Resolution Process Regulations
b. Corporate Insolvency Resolution Program Regulations
c. Corporate Insolvency Resolution Process Resolution
d. Corporate Insolvency Resolution Processing Regulations
Answer  Explanation 

ANSWER: Corporate Insolvency Resolution Process Regulations

Insolvency and Bankruptcy Board of India (IBBI) has amended its Corporate Insolvency Resolution Process Regulations to ensure that as part of due diligence, prior to approval of a Resolution Plan, the antecedents, credit worthiness and credibility of a Resolution Applicant, including promoters, are taken into account by the Committee of Creditors.

With a view to ensure that the Corporate Insolvency Resolution Process results in a credible and viable Resolution Plan, the Insolvency and Bankruptcy Board of India (IBBI) has carried-out amendments to the IBBI (Insolvency Resolution Process for Corporate Persons) Resolution Process, 2016 (CIRP Regulations).

The Revised Regulations make it incumbent upon the Resolution Professional to ensure that the Resolution Plan presented to the Committee of Creditors contains relevant details to assess the credibility of the Resolution Applicants.

The details to be provided would include details with respect to the Resolution Applicant in terms of convictions, disqualifications, criminal proceedings, categorization as wilful defaulter as per RBI guidelines, debarment imposed by SEBI, if any, and transaction, if any, with the Corporate Debtor in the last two years.

Apart from the above, the Resolution Professional has to also submit details in respect of transactions observed or determined, if any, covered under Section 43 (Preferential Transactions); Section 45(Undervalued Transactions); Section 50 (Extortionate Credit Transactions); Section 66 (Fraudulent Transactions) under Insolvency and Bankruptcy Code, 2016.

By virtue of the above mentioned changes in the Regulations, the Resolution Applicants, including promoters, are put to a stringent test with respect to their credit worthiness and credibility.

Further, it also imposes greater responsibility on the Resolution Professionals and the Committee of Creditors in discharging their duties.

The amendments are available at and

8)   Which insurance company in India is the first to provide cover for victims of cybercrime?
- Published on 03 Nov 17

a. Kotak Mahindra
b. Aviva India
c. Bajaj Allianz
d. Edelweiss Tokio Life Insurance
Answer  Explanation  Related Ques

ANSWER: Bajaj Allianz

For the first time, individuals can buy insurance cover against cybercrime, including loss of funds to online fraud, identity theft, cyberstalking and extortion, phishing and malware attack.

While customised cyber liability cover for businesses has been around for years, these were not over-the-counter covers that could be bought by individuals.

The Cyber Safe policy designed by Bajaj Allianz General Insurance is aimed at improving the level of comfort among individual internet and ecommerce users.

In today's digital world, the amount of personal data being generated, transmitted, and stored on to various digital devices is growing.

The critical nature of this data and the complexity of the systems that support its transmission and use have created a gamut of cyber risks.

While the policy can be purchased for a sum insured ranging from INR 1 lakh to 1 crore the company has not disclosed the premium schedule.

According to officials the rate will vary depending on the number of hours the individual spends online.

The cover is not device-specific and will cover transactions made using family devices or devices at work.

However, the policy expects the insured to not undertake transactions in cybercafes or suspect devices.

In addition to financial loss, the cover will compensate cost of legal defence if a hacker accesses the policyholder's credentials and puts out controversial comments in social media.

Besides defending the insurer, it will also provide legal costs for proceeding against the wrongdoer in cases like stalking. Those who fall prey to sophisticated phishing frauds are also protected.

The Indian cyber insurance market is valued at INR 30 crore only and comprises of protection bought by institutions.

Several credit card issuers have also provided cover against online fraud to cardholders. However, this protection is under a corporate cover purchased by the bank and is not available to individuals.

9)   PFMS has been implemented for CSS schemes. What does PFMS stand for?
- Published on 30 Oct 17

a. Performance Finance Management System
b. Public Finance Management System
c. Public Finance Management Schedule
d. Public Finance Monitoring System
Answer  Explanation 

ANSWER: Public Finance Management System

The Union Minister for Finance and Corporate Affairs announced the mandatory use of Public Finance Management System (PFMS) for all the Central Sector Schemes of the Government of India would help in tracking and monitoring the flow of funds to the implementing agencies.

Central Sector Schemes with a budgetary outlay of Rs.6, 66,644 crore covers over 31 percent of the total Central Government expenditure during the current financial year 2017-18.

PFMS, with the capability of providing real time information on resource availability, flows and actual utilization has tremendous potential to improve programme/financial management, reduce the float in the financial systems by enabling 'just in time' releases and also the Government borrowings with direct impact on interest costs to the Government.

PFMS will progress towards a Government wide Integrated Financial Management System (GIFMIS) - as a comprehensive Payment, Receipt and Accounting System.

PFMS is poised to develop as one of the biggest Financial Management Systems of the world, which is critical for bringing about a transformational accountability and transparency in the Government Financial Management Systems and promoting overall Good Governance.

To date payments to 34.19 crore beneficiaries have been made through PFMS and there are 21.72 lakh Programme Implementing Agencies registered on PFMS.

For the first time, Annual Accounts of the Central Government for the Financial Year 2016-17 have been signed before 31st October, 2017.

The PFMS Scheme has been rolled-out by the Controller General of Accounts (CGA) at the behest of Finance Ministry, Department of Expenditure as a cherished Public Finance Management (PFM) reform in the country.

Considering the diversity and multiplicity of channels through which money is spent/transferred (including through Direct Benefit Transfer), the PFMS is designed to serve the pertinent need of establishing a common electronic platform for complete tracking of fund flows from the Central Government to large number of programme implementing agencies, both under Central Government and the State Governments till it reaches the final intended beneficiaries.

The mandatory PFMS on-boarding for the remaining Schemes and Programmes including the Centrally Sponsored Schemes is also targeted to be achieved in a phased manner.

10)   CVC has declared a integrity index will measure processes of which of the following organisations?
- Published on 26 Oct 17

e. Only a, b and d
Answer  Explanation 

ANSWER: Only a, b and d

In line with the broader strategy and emphasis on preventive vigilance, the Central Vigilance Commission (CVC) believes that the next level of systemic change can be through the tool of Integrity Index.

The CVC has therefore decided to go in for development of the Integrity Index-based on bench-marking of internal processes and controls within an organisation as well as management of relationships and expectations of outside stakeholders.

The Integrity Index will bring out annual scores/rankings of Public Sector Undertakings/Public Sector Banks and Financial Institutions/Departments/Ministries of Government of India by linking the essential drivers of vigilance with long term efficiency, profitability and sustainability of public organizations and create an internal and external ecosystem that promotes working with Integrity in public organizations.

CVC has adopted a research-based approach for creating an integrity index that various organizations can use to measure themselves and which will evolve with changing needs.

With this view IIM-Ahmedabad has been engaged to develop the Integrity Index.

Being a new initiative, initially 25 organizations have been selected for development of the Integrity Index (as per list attached).

Subsequently, it is proposed to extend the Integrity Index concept to all other CPSUs and organizations of Government of India.

The management of all 25 organizations have been involved in the development of Integrity Index.

Integrity Index: Know More

The main objectives for which the Integrity Index is to be established are:

1. Define what constitutes Integrity of Public Organizations

2. Identify the different factors of Integrity and their inter-linkages

3. Create an objective and reliable tool that can measure the performance of organizations along these above factors

4. Validate the findings over a period of time to improve upon the robustness of the tool that measures Integrity

5. Create an internal and external ecosystem that promotes working with Integrity where public organizations lead the way.

List of 25 Selected Organizations for Development of Integrity Index

Sl. No.Sector Name of CPSE/Ministry/PSB etc
1Oil and Gas1IOCL
3Coal5Eastern Coalfields
6Western Coalfields
9Syndicate Bank
11Mumbai Port Trust
13M/o Railways
9Dept of Heavy Industry17BHEL
10Commerce and Textiles18CCI
11Social Sector19FCI
13Urban Development & Local bodies23 & 24DDA and South MCD
14Financial Sector25CBDT

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