Business & Finance - General awareness questions on current affairs

1)   Simplygon, a privately held Swedish company has been acquired by ___________
- Published on 19 Jan 17

a. Microsoft
b. Oracle
c. Apple
d. None of the above
Answer  Explanation  Related Ques

ANSWER: Microsoft

Explanation:
Developer of automatic 3D data-optimisation solutions, Simplygon has been acquired by Microsoft on 17th Jan 2017.

It was developed by Donya Labs AB, a privately-held company based in Sweden.

This acquisition accelerates Microsoft's 3D For Everyone vision and strategy. This vision was introduced with the Windows 10 Creators Update.

Simplygon is a leader in 3D game optimisation.

It is dedicated to helping creators and users of 3D data across industries optimise content pipelines and streamline workflows.

Simplygon's technology and talent will strengthen Microsoft's position in 3D creation.

It will also be making it easier to capture, create and share in 3D.


2)   Yes Bank has started which business accelerator program in partnership with startup incubator T-hub and Anthill, a speed scaling platform?
- Published on 18 Jan 17

a. Yes FinTech
b. Yes FinCash
c. Yes FinDraw
d. None of the above
Answer  Explanation  Related Ques

ANSWER: Yes FinTech

Explanation:
Yes Bank in Jan 17, 2017 launched 'Yes Fintech', a business accelerator program. The program was launched in collaboration with T-Hub a startup incubator set up by the Telangana government.

Anthill - a speed scaling platform for early growth stage start-ups also participated.

Yes Bank has been collaborating with and supporting over 100 fintech start-ups in the country to provide innovative financial solutions to its corporate, SME and retail customer base.

This is part of its Alliances, Relationships & Technology (ART) approach to digitised banking

The accelerator will help the bank co-create disruptive innovations in:

  • Financial inclusion,
  • MSME focused solutions,
  • Payments,
  • Lending,
  • Compliance,
  • Risk management,
  • Trade finance,
  • Capital markets and
  • Forex and treasury space
Financial technology startups are leading the digital revolution.

Yes Fintech Accelerator takes this philosophy forward and provides start-ups a platform for creating sustainable and market ready products.


3)   Which PSU lender has announced cashless transactions through mobile phones for which Aadhaar is required only?
- Published on 17 Jan 17

a. SBI
b. PNB
c. Andhra Bank
d. Dena Bank
Answer  Explanation  Related Ques

ANSWER: Andhra Bank

Explanation:
PSU lender Andhra bank on 16th Jan 2017 announced the launch of a fresh initiative for cashless transactions through mobile phones. Only the Aadhaar number is required for these.

The e-payment scheme is called AB e-Vyapar. Andgra Bank CMD Suresh N Patel made the announcement.

The initiative needs only Aadhaar number and not even any card or a PIN.

Till now, the PSU bank had POS machines with the merchants and people were going with a card.

Now with technology, the bank has launched and created infrastructure where with mobile, a small instrument will be attached and through Aadhar, the payments can be effected.

About Andhra Bank

  • Industry: Finance
  • Founded: 20 November 1923
  • Founder: Bhogaraju Pattabhi Sitaramayya
  • CMD: Suresh N Patel
  • Revenue: ₹178.68 billion (US$2.7 billion) for 2015


4)   How many new demat accounts were opened in India in 2016?
- Published on 16 Jan 17

a. 2.4 million
b. 2.5 million
c. 2.6 million
d. None of the above
Answer  Explanation  Related Ques

ANSWER: 2.4 million

Explanation:
As many as 2.4 million new dematerialized (Demat) accounts were opened in India in 2016 - the highest since 2008.

Experts are stating that a string of initial public offerings (IPO) and increased demand for mutual funds had attracted investors to financial assets,

Investors from retails sector had chosen to invest in stocks, and reforms such as the upcoming goods and services tax (GST) had encouraged people to open demat accounts.

Indians traditionally prefer gold, real estate and bank deposits.

In 2016, initial public offerings (IPOs) garnered INR 26,493.84 crore in 2016, data from Prime Database showed.

Meanwhile, mutual fund folios in India rose 4.47 percent quarter-on-quarter in the three months ended December 2016 to a fresh record.

As per Association of Mutual Funds of India, mutual funds added 1,64 million folios between October and December last year to touch 50.6 million.

Nearly 3 million Demat accounts opened in 2008, according to data from National Securities Depository Ltd, and Central Depository Services Ltd.

In India, less than 1% of the population invests in stocks either directly or through mutual funds.


5)   Maluuba, a startup to be acquired by Microsoft is focused on __________
- Published on 16 Jan 17

a. Making machines think the way people do
b. Boost AI
c. Both of the above
d. None of the above
Answer  Explanation 

ANSWER: Both of the above

Explanation:
Microsoft on 13th Jan 2017 announced a deal to purchase Montreal based AI startup Maluuba. The startup is focused on making machines think the way people do.

Microsoft has also included the founders of this startup on board, namely Kaheer Suleman and Sam Pasupalak.

Financial terms of the acquisition were not disclosed.

Maluuba aims to create more general AI by opting for machines that can reason, communicate and think like humans.

Tech giants Apple, Amazon, Samsung, Google and Microsoft are vying to create the most sophisticated AI assistant.

Microsoft: Know More

  • Industry: Computer software & hardware, Consumer electronics, Digital distribution
  • Founded: April 4, 1975
  • Location: Albuquerque, New Mexico, United States
  • Founders: Bill Gates & Paul Allen
  • Headquarters: Microsoft Redmond campus, Redmond, Washington, United States
  • CEO: Satya Nadella
  • Chairman: J. W. Thompson
  • Founder and Technology advisor: Bill Gates
  • President: Brad Smith


6)   Which telecom company launched its first payment bank on 12th Jan 2017?
- Published on 13 Jan 17

a. Vodafone
b. Airtel
c. BT
d. None of the above
Answer  Explanation  Related Ques

ANSWER: Airtel

Explanation:
Airtel launched its first payments bank in the country. The company has rolled out the service in all the 29 states of the country.

Airtel Payments Bank is a fully digital and paperless bank.

It aims to take basic banking services to the doorstep of every Indian by leveraging Airtel's vast retail network.

Airtel retail stores across the country will also function as banking points.

Customers will be able to open savings accounts, deposit and withdraw cash across any of these banking points.

No processing fee is to be charged for customers and merchant partners for digital transactions.

Accounts can be opened on Aadhaar based e-KYC and the Airtel mobile number will be the bank account number.

The account holders can keep maximum of Rs 1 lakh in their accounts which will fetch an annual interest rate of 7.25 % on deposits, while the company will charge 0.65% fees on withdrawals.

Know More on Airtel

  • Industry: Telecommunications
  • Founded: 7 July 1995
  • Founder: Sunil Bharti Mittal
  • Chairman and MD: Sunil Bharti Mittal
  • Products: Fixed line and mobile telephony, broadband and fixed-line internet services, digital television and IPTV
  • Revenue: ₹966.021 billion (US$14 billion) (2016)


7)   Who has been appointed as Snapdeal's Chief Strategy and Investments Officer?
- Published on 13 Jan 17

a. Rahul Yadav
b. Jason Kothari
c. Kunal Bansal
d. None of the above
Answer  Explanation  Related Ques

ANSWER: Jason Kothari

Explanation:
Ex Housing.com CEO Jason Kothari has been appointed the head of the Snapdeal strategy and investment operations.

This is following the merger of the realty portal with PropTiger.

Snapdeal's Chief Strategy and Investment Officer Kothari will work alongside Kunal Bhal and Rohit Bansal in a leading role.

Kothari will join Snapdeal on Jan 16, 2017. Both Housing.com and Snapdeal are backed by SoftBank.

Kothari's responsibilities will include:

  • Leading strategy.
  • Corporate development, including all investments and strategic partnerships.
  • Raising new capital for the company and portfolio management.
  • Overseeing companies that Snapdeal wholly owns or has invested in.
Housing.com announced merger with News Corp-backed real estate brokerage firm PropTiger.

The joint entity raised USD 55 million from Real Estate Australia (REA) Group and Softbank.

Before Housing.com, Kothari was CEO and Vice Chairman of character-based entertainment company Valiant Entertainment.

Know More about Snapdeal
  • Type of business: Private
  • Type of site: E-commerce
  • Founded: 2010
  • Headquarters: New Delhi, India
  • Founders: Kunal Bahl, Rohit Bansal
  • Industry: Internet
  • Subsidiaries: FreeCharge
  • Website: www.snapdeal.com


8)   Which company signed an MoU with Gujarat's Tribal Development Department on 11th Jan 2017?
- Published on 13 Jan 17

a. Amazon India
b. Amazon Africa
c. Amazon-US
d. Amazon LLC
Answer  Explanation  Related Ques

ANSWER: Amazon India

Explanation:
To promote digital literacy among tribal entrepreneurs in Gujarat, Amazon India on 11th Jan 2017 signed an MoU with Gujarat Tribal Development Department.

The MoU was signed during the Vibrant Gujarat Global Summit 2017.

As part of the MoU, Amazon India will educate, train and enable tribal entrepreneurs to sell products to Amazon customers in India and across the world.

Initiative will help tribals to grade and standardise their products, available to the Amazon customer base across the globe.

Amazon India will also train women entrepreneurs on making products attractive and appealing.

Product portfolio will include tribal products like paintings (Warli/Pithora/ Bhada), bamboo crafts, clay craft, minor forest produce, herbal medicines, embroidery items and tribal food items.

The agreement will benefit the local ecosystem and catalyse economic development among tribal communities.

Leading Retailer Amazon: Know More

  • Founded: July 5, 1994 (as Cadabra)
  • Location and HQ: Seattle, Washington, US
  • Area served : Worldwide
  • Owner/Founder/Chairman and CEO: Jeff Bezos
  • Key Executives: Werner Vogels (CTO), Andrew Jassy (CEO, AWS), Jeff Wilke (CEO, Consumer)
  • Industry: Internet


9)   Which financial body has asked intermediaries and companies to make regulatory payments in digital mode?
- Published on 13 Jan 17

a. SEBI
b. RBI
c. NSE
d. BSE
Answer  Explanation  Related Ques

ANSWER: SEBI

Explanation:
Joining focuses with the government on the post-demonetization cashless drive, market regulator SEBI plans to give option to market intermediaries and companies to make digital payments.

Move will help speed and ease of transactions while lowering failures due to payment gateway issues.

SEBI is said to follow many organisations on the digital drive, following demonetisation of high value currency by the RBI in Nov.

Intermediaries such as brokers, Foreign Portfolio Investors, Stock Exchanges, Custodians make payments to SEBI through online banking.

Payments made include penalties, disgorgement amounts, settlement amounts, legal charges and recovery amounts. An option for e-payment of the same through RTGS has been approved.

To enable digital payment, SEBI will pass an amendment in different regulations setting the option for payment to the regulatory authorities through the digital mode.


10)   Assam government is launching an e-wallet called ________________.
- Published on 11 Jan 17

a. Tokapoisa.in
b. Tokapoisa.com
c. Tokapoisa.net
d. None of the above
Answer  Explanation  Related Ques

ANSWER: Tokapoisa.in

Explanation:
The indigenously developed e-Wallet Tokapoisa.in aims to enable the people of the state for hassle-free online transactions in local language.

It will be launched on the occasion of Digi Dhan mela to be held in Guwahati.

Tokapoisa.in has been developed by the AMTRON to facilitate government-related transactions. It is using mobile application.

Besides being an e-Wallet, it will be a virtual payment terminal.

It will be a virtual payment terminal.

He said government-related transactions could also be possible through the mobile application.

It has a feature of ‘accounting package’ for such small traders who cannot engage full-time accountants to keep their financial records.

To enable offline payment, local cards will be available for paying through Tokapoisa.in.

It will be available via popular commercial online services for download.

It will be unveiled on the inaugural day of a state-level DigiDhan Mela here on January 11 next.

Meanwhile, Assam's Khetri gaon panchayat is being made fully digital.

It will be formally announced as the first digital GP of the state soon.

DigiDhan Mela will also see the launch of an e-payment portal of the Finance Department in association with the State Bank of India.

About Digi Dhan Mela

  • The DigiDhan Mela is being organised to promote cashless transaction.
  • It helps to adopt digital payment practice.
  • It also aims to help users in downloading, installing and using various digital payment systems.
  • Systems are for carrying out digital transactions.
  • The mela will also provide free wifi at the venue to enable citizens to download and install mobile apps.
  • It will be aiding on the spot digital payments.
  • The event will see participation from a lot of organizations.
  • These include e-wallet operators, banks, telecom companies, networking firms, oil companies, merchant associations and government agencies.


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