Business & Finance - General awareness questions on current affairs

1)   Which of the following is true about “Mundra Port”?
- Published on 26 Apr 17

a. It is located in Gujarat
b. It has become India's largest container handling port
c. French shipping CMA CGM and Adani Ports and SEZ signed an agreement to operate a new container terminal in April 2017
d. Only a and b
e. All the above
Answer  Explanation 

ANSWER: All the above

Explanation:
French shipping group CMA CGM and Adani Ports and Special Economic Zone have signed a joint venture agreement, to operate a new container terminal (CT4) at Mundra Port in Gujarat.

This is for next 15 years with an option to extend it twice for 10 more years.

The two have completed the CT4 project three months ahead of schedule. CT4 will be the only container terminal on the west coast where the world’s largest container ships can call.

CT4 has four units of 65 tonnes capacity of Rail Mounted Quay Cranes capable of handling 18,000 TEU vessels and Super Post and Ultra Large Container Vessels and an annual capacity of 1.3 million TEUs.

For CMA CGM, CT4 is its first port investment in India.

CMA CGM is present in India since 1984.

With around 4,000 staff members and 29 offices, it is calling 13 ports in India, and offers to its Indian customers 11 direct weekly shipping services.

This new investment adds to the 27 container terminals that CMA CGM has today in its portfolio.

With the commissioning of this terminal, Mundra port will become India’s largest container-handling port.

Indian Ports: Know More

  • India has a coastline spanning 7516.6 kilometres.
  • This forming one of the biggest peninsulas in the world.
  • According to the Ministry of Shipping, around 95 per cent of India's trading by volume and 70 per cent by value is done through maritime transport.


2)   Which IT major has acquired UFS on April 24, 2017?
- Published on 25 Apr 17

a. HCL Technologies
b. IBM
c. Wipro
d. None of the above
Answer  Explanation  Related Ques

ANSWER: HCL Technologies

Explanation:
HCL Technologies on 24th April acquired announced the acquisition of U.S.-based provider of mortgage business process and fulfilment services - Urban Fulfillment Services (UFS) - for USD 30 million.

The deal with UFS, which has more than 350 employees and operates out of three centres in the U.S., strengthens HCL’s capabilities in mortgage BPO services, loan fulfilment and debt servicing space.

The company said that the it would be acquiring 100% stake in UFS. The total cash consideration for this transaction is up to $30 million, including contingent payments subject to certain financial milestones.

Mortgage servicing is a regulated activity in the U.S. and the transaction requires would require regulatory approvals for getting licences.


3)   Which international bank has approved a USD 375 million loan for capacity augmentation of NW-1?
- Published on 24 Apr 17

a. ADB
b. NDB
c. IDBI
d. World Bank
Answer  Explanation 

ANSWER: World Bank

Explanation:
The World Bank has approved a loan of $375 million (around Rs 2,421 crore) for capacity augmentation of National Waterway-1 (NW-1) between Haldia in West Bengal and Varanasi in Uttar Pradesh on the river Ganga under the Jal Marg Vikas Project (JMVP).

The project would enable commercial navigation of vessels of 1,500-2,000 deadweight tonnes capacity along a 1,390-km stretch.

Jal Marg Vikas Project is a project on the river Ganga that envisages the development of waterway between Allahabad and Haldia that will cover a distance of 1620 km.

It aims to develop a fairway with three metres depth to enable commercial navigation of at least 1500 tonne vessels on the river.

The project includes the development of fairway, multi-modal terminals, strengthening of open river navigation technique, conservancy works, modern River Information System (RIS) etc.

As a part of the project, Inland Waterways Authority of India will set up a River Information Service System on NW-1, the first of its kind in India.

Besides, three multi-modal terminals, one each at Varanasi, Sahibganj (Jharkhand), Haldia; and inter-modal terminals at Kalughat and Ghazipur; a navigation lock at Farakka; and five Roll on-Roll off (Ro-Ro) terminals would be constructed.

Inland Waterways Authority of India: Know More

  • Inland Waterways Authority of India (IWAI) is the statutory body in charge of the waterways in India. Its headquarters are in Noida, UP.
  • Its main function is to build the necessary infrastructure in the inland waterways, surveying the economic feasibility of new projects and also carrying out administration and regulation.
River Information system (RIS): Know More
  • RIS is a blend of modern tracking equipment comprising of hardware and software designed to optimise transport and traffic processes in inland water navigation.
  • The system has the capacity to enhance swift electronic data transfer between mobile vessels and Base stations through advance and real-time exchange of information.
  • It enables safe and effective inland water transport by avoiding risks such as Ship-to-Ship collisions, Ship-Bridge collisions, Groundings.
  • IWAI is implementing RIS in India.


4)   FEEs through tourism in India in rupee terms was _________ crore.
- Published on 24 Apr 17

a. INR 14953
b. INR 14539
c. INR 15439
d. None of the above
Answer  Explanation 

ANSWER: INR 14953

Explanation:
Ministry of Tourism estimates monthly Foreign Exchange Earnings (FEEs) through Tourism in India, both in rupee and dollar terms. Based on the credit data of Travel Head from Balance of Payments of RBI.

The highlights of the estimates of FEEs from Tourism in India for March 2017 are as below:

FEEs during the month of March 2017 were INR.14, 953 crore as compared to INR 13,115 crore in March 2016 and `11,133 crore in March 2015.

The growth rate in FEEs in rupee terms in March 2017 over March 2016 was 14.0% compared to positive growth of 17.8% in March 2016 over March 2015.

FEEs during the period January- March 2017 were Rs. 46,310 crore with a growth of 14.6%, as compared to the FEE of Rs. 40,411 crore with a growth of 15.9% in January- March 2016 over January- March 2015.

FEEs in USD terms during the month of March 2017 were USD 2.268 billion as compared to FEEs of USD 1.958 billion during the month of March 2016 and USD 1.783 billion in March 2015.

The growth rate in FEEs in US$ terms in March 2017 over March 2016 was 15.8% compared to a positive growth of 9.8% in March 2016 over March 2015.

FEEs during the period January-March 2017 were USD 6.907 billion with a growth of 15.4% as compared to the FEE of USD 5.986 billion with a growth of 6.8% in January- March 2016 over January- March 2015.

Ministry of Tourism: FTAs

  • Ministry of Tourism compiles monthly estimates of Foreign Tourist Arrivals (FTAs) & FTAs on e- Tourist Visa on the basis of Nationality-wise, Port-wise data received from Bureau of Immigration (BOI).
  • The number of FTAs in March, 2017 were 9.05 lakh as compared to FTAs of 8.17 lakh in March, 2016 and 7.29 lakh in March, 2015.
  • The growth rate in FTAs in March, 2017 over March, 2016 is 10.7% compared to 12.1% in March, 2016 over March, 2015.
  • FTAs during the period January- March 2017 were 28.45 lakh with a growth of 13.4%, as compared to the FTAs of 25.08 lakh with a growth of 10.0% in January- March 2015 over January- March 2014.
  • The percentage share of Foreign Tourist Arrivals (FTAs) in India during March 2017 among the top 15 source countries was highest from Bangladesh followed b y USA, UK, Russian Fed., Malaysia, Canada Germany , Sri Lanka, China, France, Australia, Japan, Afghanistan, Singapore and Iran.


5)   What does CCSP stand for in the context of C-DOT?
- Published on 24 Apr 17

a. C-DOT Common Service Platform
b. C-DOT Composite Service Platform
c. C-DOT Commonly Service Platform
d. C-DOT Commonality Service Platform
Answer  Explanation 

ANSWER: C-DOT Common Service Platform

Explanation:
Government of India’s announcement of Smart Cities project in mission mode has generated a lot of interest.

The concept of smart cities is incomplete without intervention of communication and Information Technology.

C-DOT has developed CCSP(C-DOT Common Service Platform), the oneM2M standards compliant common service platform which can be deployed on any off-the-shelf generic server platforms or cloud infrastructure.

The business application providers can deploy their oneM2M compliant applications in either co-located infrastructure or on any public or private cloud.

Using the CCSP platform from C-DOT, the smart cities can reap all the benefits of using a standards compliant horizontal service layer and thus be more efficient, economical and future proof.

Along with the CCSP C-DOT has also developed various oneM2M indigenously designed hardware nodes like AND (Application Dedicated Node), ASN (Application Service Node) and MN(Middle node).

To effectively showcase the strength of the platform, C-DOT has also developed various applications like Smart Living, Smart Street Light, Carbon Footprint Monitoring Application and Power Monitoring which are fully oneM2M compliant.

C-DOT has also participated in two international interoperability events where the CCSP and the ADN were tested for interoperability with many other oneM2M compliant nodes from various international organisations like Interdigital, Herit, Huawei, HPE, NTT, KETI, LAAS-CNRS etc. C-DOT also participated in the conformance testing with ETSI.

Telecommunications Standards Development Society, India (TSDSI), the Indian telecom Standards Development Organisation (SDO) and European Telecommunications Standards Institute (ETSI have joined hands to unroll a collaboration project on ICT Standardisation.

Recognising C-DOT’s R&D strengths, an India - European Union project called ‘India-EU Cooperation on ICT-Related Standardisation, Policy and Legislation’ is organising a workshop on “Future proof smart cities with a common service layer: a standards driven approach”.

The workshop aims to provide a platform where foreign and Indian experts from IoT and M2M forums, academia, R&D, industry and senior officials from Ministries of Communications, Urban Development and Electronics and Information Technology and cities named in Indian Smart Cities project can interact to share knowledge and experience

PDO: Know More

  • C-DOT PDO is ready to bring yet another revolution by taking internet connectivity to every nook and corner of the country like it did in the 1980s when PCOs changed the Indian telecom scene in by taking telephones to rural India.
  • C-DOT hopes that PDOs would bring next telecom revolution by taking internet connectivity to the masses.
  • Like PCOs, the PDOs would enable small shop owners increase their income by selling data vouchers. This will also encourage village-level entrepreneurship and provide strong employment opportunities, especially in rural and semi urban areas.


6)   Metro companies will now invite tenders for procurement of which signalling equipment?
- Published on 24 Apr 17

a. Make in India
b. Made in India
c. India Shining
d. None of the above
Answer  Explanation 

ANSWER: Made in India

Explanation:
With rapid expansion of metro rail projects in the country, Ministry of Urban Development has taken several far reaching decisions to promote Make in India campaign.

These include stipulating certain mandatory conditions to be incorporated in Tender Documents of metro companies for procurement of metro cars and related critical equipment and sub-systems, procurement of only Made in India signalling equipment besides standardizing technical parameters for rolling stock (metro coaches) and signalling equipment.

The new mandatory Tender Conditions and standardized norms for a wide range of equipment, approved by the Minister of Urban Development Shri M.Venkaiah Naidu have been circulated to all the metro companies making them effective immediately.

These initiatives will incentivize setting up manufacturing facilities in the country by increasing the volumes of procurement of rolling stock and all kinds of equipment by removing variations in the present technical norms for rolling stock and signalling equipment.

This will in turn result in reduction of cost through economies of scale.

The Ministry has stipulated the following mandatory conditions to be incorporated in Tender Documents:

1. Minimum 75% of the tendered quantity of metro cars shall be manufactured indigenously with progressive indigenization of content, for which the contractor may either establish independent manufacturing facility in India or partner with Indian manufacturers, if the procurement is more than 100 cars;

2. To facilitate ease in maintenance through easy availability of spares beyond the warranty period, an identified list of critical equipment and sub-systems shall be included in the Tender Document for ensuring indigenous manufacturing of a minimum of 25% of such equipment, either by Original Equipment Manufacturers themselves by establishing a wholly owned subsidiary in India or through Indian manufacturers;

3. Requirement of metro cars at State level shall be clubbed to enable applicability of local procurement norms; and

4. To develop in-house expertise on long term basis, metro companies with large size fleet to undertake in-house maintenance.
Source: PIB

A total number of 1,912 metro coaches are currently operational in the country with another 1,420 under procurement.

Over the next three years more than 1,600 metro cars would be required. Each metro coach is estimated to cost about INR .10 cr.

The long pending standardisation of norms for rolling stock and signalling equipment applicable to over 90% of the present imports.

Further, to promote indigenous manufacturing, the Ministry has stipulated procurement of 9 types of signalling equipment from within the country.

Metro companies have also been directed to develop maximum possible local competence so that knowhow and technical support is available within the country.

Indian companies have to be associated with production of a wide range of signalling and train control project equipment.

Homogenization of several metro functions has also been prescribed.

Presently, metros are operating in 7 cities of Delhi, Kolkata, Mumbai, Jaipur, Gurgaon, Bengaluru and Chennai with a total route length of 326 kms.

Metro projects with a total route length of 546 kms are under construction in 11 cities and projects with a total route length of 903 kms in 13 cities are under consideration.


7)   Which is the most valued PSU by market valuation?
- Published on 21 Apr 17

a. ONGC
b. SBI
c. MNTL
d. BSNL
Answer  Explanation  Related Ques

ANSWER: SBI

Explanation:
State Bank of India on April 20, 2017 yet again surpassed energy behemoth ONGC to become the country's most-valued PSU by market valuation.

In the past few days, a game of musical chair was being played out between SBI and ONGC for the title of most-valued PSU.

SBI on Tuesday for the first time toppled ONGC as the most-valued PSU.

The market capitalisation (m-cap) of SBI at the end of recent trade stood at INR 2,31,049.83 crore. This was Rs 757.42 crore more than ONGC's valuation of Rs 2,30,292.41 crore.

ONGC has been the country's most valued firm across private and public sectors for some time a few years ago, when it first toppled RIL from the top of the charts and then also TCS from the pole position.

Shares of SBI today rose by 0.25 per cent to close at Rs 284.90, while ONGC ended at Rs 179.45, down 0.22 per cent on BSE.

In the top-10 ranking, SBI stands at sixth place and ONGC at seventh spot.

Most Valued Indian Firms

  • TCS is the most-valued Indian firm with a market valuation of Rs 4,58,784.59 crore,
  • RIL (Rs 4,45,237.53 crore) is second.
  • HDFC Bank (Rs 3,74,631.37 crore) is third.
  • ITC (Rs 3,39,397.88 crore) is fourth.
  • HDFC (Rs 2,40,992.68 crore), at fifth place.
  • SBI, ONGC, Infosys (Rs 2,13,076.07 crore) are sixth.
  • IOC (Rs 2,07,589.94 crore) comes 7th.
  • HUL (Rs 1,98,276.07 crore) is 8th.


8)   Which company has acquired Financial Navigator?
- Published on 20 Apr 17

a. Asset Vantage
b. Asset Advantage
c. Asset Link
d. Asset Lead
Answer  Explanation  Related Ques

ANSWER: Asset Vantage

Explanation:
Mumbai based fintech company Asset Vantage offers a SaaS based investment portfolio management software.

It has acquired Santa Clara based software company Financial Navigator, a 30 year old American company running a portfolio tracked software focused on wealth management market.

Asset Vantage was founded by UniDEL, a family office run by Sunil Dalal, with a focus on wealthy individuals and family office.

Asset Vantage entered the US in 2015, organically building up a customer base of 12 family offices.


9)   Myntra acquired which Bengaluru based company?
- Published on 20 Apr 17

a. InLogg
b. InBlog
c. InClog
d. Limeroad
Answer  Explanation  Related Ques

ANSWER: InLogg

Explanation:
Fashion e-tailer Myntra has acquired Bengaluru based InLogg for a non disclosed amount. This will strengthen the supply chain capabilities of the Flipkart owned company.

Founded in 2015, InLogg offers a technology platform that provides end-to-end logistics solutions for the e-commerce sector.

As part of the acquisition, the team at InLogg has been inducted into Myntra, making it an acquihire that will further strengthen and expand Myntra's supply chain capabilities.

The core management team of InLogg comprises Preeti Jain (CEO), Rajat Khanduja (CTO), Prateek Gautam (Head of Product and Operations) and Hemant Agrawal, Head of Business Development.

With an 80 per cent year-on-year growth, the company on a strong trajectory.

The Inlogg acquihire with the platform and capabilities will help the company scale while delivering great customer experience in Tier II, III and IV cities.

It will allow Myntra to leverage local and regional players to enhance its reach, reduce delivery time and develop a plug-and-play model which can be scaled in the future.

Acquisitions by Myntra

  • This is the fourth technology-led acquisition for Myntra.
  • It has acquihired Bengaluru-based based tech startup Cubeit (2016) and mobile app development company Native5 (2015).
  • It had also acquired Fitiquette, a San Francisco-based technology solution firm, which offered a virtual fitting room, in 2013.


10)   What is the latest amendment to the FPI regulations by capital and commodities market regulator SEBI?
- Published on 19 Apr 17

a. Barring Indians, NRIs and entities beneficially owned by NRIs from trading
b. Barring Indians, NRIs, and entities beneficially owned by NRIs from being owners of participatory notes
c. Barring Indians and NRIs from FDI in India
d. None of the above
Answer  Explanation  Related Ques

ANSWER: Barring Indians, NRIs, and entities beneficially owned by NRIs from being owners of participatory notes

Explanation:
Capital and commodities market regulatory authority SEBI is set to amend the FPI regulations to formally bar Indians, NRIs and entities beneficially owned by NRIs from being beneficial owners of participatory notes.

PNs are derivative instruments issued by foreign institutional investors to overseas clients who want to invest in Indian securities, but do not want to register with SEBI, for reasons perfectly legitimate or even dubious.

The underlying asset could be shares, derivatives or debentures.

Till now, the restriction on Indians and NRIs from being beneficial owners was imposed by way of Frequently Asked Questions on the regulator’s website.

The move to include this in FPI regulations will give the restriction more legal sanctity.

Also, the move will help curb round-tripping of funds to evade taxes.

Often, money siphoned out of the country by inflating import bills and under-reporting export income is brought back through the stock market.

Foreign investors who invest in Indian through PNs are often fronts for Indian and NRI entities.

PNs are often onward issued, meaning, PNs issued to client A are then sold by A to the next client B.

The onward issuances - one or more - of PNs are done to create a layer to shield the actual beneficiary from the regulator's glare.

SEBI rules are clear if the PNs issued to a client A onward issued to another client B, the responsibility for identifying and the accountability for reporting the end beneficial owners rests entirely with the issuer, the FII.

But enforcing it is the biggest challenge for the regulator, given the magnitude of the foreign funds coming in through the P-note route.

At present, roughly USD 27 billion of FII holdings are through the P-note route.


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