Economy Current Affairs
March 2nd week 2015 current affairs
Category : Economy Current Affairs
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 1) At present Cash Reserve Ratio? 


Ans : (3)

1. 2%

2. 3%

3. 4%

4. 7%

5. 12%

Explanation: At present Cash Reserve Ratio is 4%. In the recent monetary policy Governor maintained status quo. On 2nd December monetary policy was released and the rates are unchanged for the fifth time in a row on 2nd December. The repo rate continues to be at 8 per cent while the cash reserve ratio has also been retained at 4 per cent. Statutory Liquidity Ratio retained at 22 per cent to unlock banking funds.


 2) On 3rd December, 2014 Government has eased FDI norms, to promote...? 

Ans : (1)

1. Real Estate

2. Retailing

3. Agriculture

4. Marketing

5. None

Explanation: The government on 3rd Decembmer eased foreign direct investment (FDI) norms for the construction development sector .Notifying the decision taken by the Cabinet in November, the Department of Industrial Policy and Promotion (DIPP), the nodal agency for all FDI policy, said foreign developers would now be allowed to exit a project only after completion or after completing the basic trunk infrastructure such as roads, water supply, street lighting, drainage and sewage.


 3) Inter-ministerial committee was set up to quickly process the investments from which of the following countries? 

Ans : (3)

1. Canada

2. Italy

3. USA


5. UAE

Explanation: The government has constituted an inter-ministerial committee to ease investment from the US. The committee, to be headed by the secretary in the department of industrial policy and promotion (DIPP), would fast-track investment proposals from the US and address the issues related to implementation of the projects where money is to flow in. At present, Amitabh Kant is the DIPP secretary.


4) To help which of the following RBI established exchange-based trading platform? 


Ans : (2)

1. Housing


3. Software

4. Agriculture

5. None


Explanation: To help micro, small and medium enterprises (MSMEs), the Reserve Bank of India (RBI) on 3rd December permitted setting up of an exchange-based trading platform to facilitate financing of bills raised by such small entities to corporate and other buyers, including government departments and PSUs.


 5) White label ATMs are...? 

Ans : (1)

1. ATM`s by private sector

2. ATM`s by Government

3. Software Bug

4. Mobile Apps

5. None

Explanation: ATM`s that are run by private firms are known as white labeled ATM`s, on 5th December Reserve Bank of India (RBI) allowed third-party white label automated teller machines (ATM) to accept international cards, including international prepaid cards, and said white label ATMs can now tie up with any commercial bank for cash supply. The currency conversation rate will be fixed by a local bank, RBI said in a notification on its website. White label ATMs are operated by independent operators, usually through tie-ups with particular banks, where the bank`s ATMs could be used.


 6)Who among the following headed tax administration reform commission? 

Ans : (3)

1. Rangarajan

2. Bimal Jain

3. Parthasarathy Shome

4. Sureshan Committee

5. Sri Krishna

Explanation: The Tax Administration and Reform Commission (TARC) has suggested reintroducing the Fringe Benefits Tax (FBT) and Banking Cash Transaction Tax (BCTT) to widen the tax base, minimising various tax exemptions, and staying away from amnesty schemes as these cause inequity among taxpayers. In its third report given to the finance ministry, the panel headed by Parthasarathi Shome said unlike earlier, even legislators and government officials should be kept under the purview of FBT, which was first introduced in 2005 by then finance minister P Chidambaram. Both FBT and BCTT were unpopular taxes and withdrawn before the general elections in 2009.


 7) Which of the following were discussed by Prime Minister, during his meeting with Chief Minister`s of all states, for framing new body in place of Planning Commission? 

Ans : (4)

1. Team India

2. Cooperative Federalism

3. Bottom approach

4. All above

5. None of the above 

Explanation: No unanimous decision emerged in the meeting convened by Indian Prime Minister Narendra Modi, regarding revamping of Plan Panel. The meeting was held with all the Chief Minister`s of the country to express their opinion, on scrapping the plan panel. The meeting was held on 7th December. The Prime Minister described `Team India` as a combination of three teams -the Prime Minister and Chief Ministers, the Union Council of Ministers and the bureaucracy in the Centre and States. Invoking the spirit of "cooperative federalism", Modi said that the current global scenario offered a chance for India to take a big leap forward and stressed the need for a suitable body to replace the Planning Commission so that the strengths of the country can be suitably harnessed. He said it is impossible for the nation to develop unless states develop. He said the process of policy planning also has to change from top to bottom" to "bottom to top."


 8) Which of the following companies were merged in recent times? 

Ans : (2)

1. Sun Ranvaxy


3. Sony-Microsoft

4. Bestavision- Ranbaxy

5. None 

Explanation: The Competition Commission of India has approved the Sun Pharma-Ranbaxy merger with some caveats. According to the conditions imposed by the Commission, the merged entity will have to divest seven drug formulations in which its combined market share goes up to 95 per cent, resulting in a monopoly. This $4-billion agreement is the first merger deal where CCI had sought opinion from the public.In a statement


9) Which of the following bank has launched home-grown index on 9th December? Ans : (3)


2. UCO

3. SBI


5. Axis Bank


Explanation: Country`s largest Bank, State Bank of India on 9th December launched monthly economic index, a tool that will primarily track manufacturing activity to offer a forward-looking economic trends. The SBI Composite Index rivals the existing data point from British lender HSBC. The SBI index has been developed on the basis of the bank`s internal loan portfolio, which mirrors the credit demand in the country, and other data sets available in public domain.


 10) Union cabinet allowed the dilution of government equity in public sector banks up to?

 Ans : (1)

1. 52%

2. 34%

3. 45%

4. 56%

5. 12%

Explanation: Public Sector Banks (PSBs) will be able to raise up to Rs 1.6 lakh-crore from markets as the Union Cabinet on 10th December allowed the dilution of government equity in these lenders up to 52 per cent. This would enable these banks to partly meet Basel III requirements by March 31, 2019. The Cabinet Committee on Economic Affairs approved putting in place a new ethanol blending policy under which the price of ethanol would be fixed according to the distance of sugar factory from the depots of oil marketing companies. Under the ethanol blending programme, 5 per cent ethanol is doped with petrol.


 11) Which of the following world organization has sanctioned second loan for Eastern dedicated freight corridor?

 Ans : (4)


2. ADB

3. ASB

4. World Bank

5. Federal Bank

Explanation: The Government and the World Bank on 11th December signed a $1.1-billion deal for a second loan for the Eastern Dedicated Freight Corridor. The project was approved by the World Bank board in April. The Eastern corridor is 1,839km-long and extends from Ludhiana to Kolkata. An earlier loan of $975 million for the 343-km Khurja-Kanpur section in the EDFC programe was approved by the World Bank board in May 2011 and is already under implementation. Another major contract for systems is under evaluation.


 12) According to United Nations organization, India`s GDP in 2016 will be? 

Ans : (2)

1. 3%

2. 6.3%

3. 7.6%

4. 4.5%

5. 9.0%

Explanation: India`s economic growth is expected to improve to 6.3 per cent in 2016 with the country leading economic recovery in South Asia, according to a United Nations report. The UN World Economic Situation and Prospects 2015 (WESP) report, launched on 11th December, also said India is likely to make progress in implementing economic policy reforms and help provide support to business and consumer confidence. It said India, which is estimated to record a 5.4 per cent economic growth in 2014, will see GDP growth improving to 5.9 per cent next year and 6.3 per cent in 2016.


 13) Who among the following is the head of the SIT on black money?

 Ans : (2)

1. Jagan Mohan Dalmiya

2. KT Shah

3. Parthasarathy Shome

4. Sri Krishna

5. None

Explanation: The Special Investigation Team, SIT on black money in its second report submitted to the Supreme Court has revealed that persons on the HSBC list held 4,479 crores rupees in off shore accounts. In an official statement, it said that out of 628 names on the HSBC list received from France, 201 are either non-residents or non-traceable, leaving 427 persons` cases as actionable cases. The Central Board of Direct Taxes has directed its officers to finalise the assessments for all 427 actionable cases, whose names are appearing in the HSBC list.


 14) In which of the following country, for the first time environmental friendly bus was introduced?

 Ans : (3)

1. Canada


3. UK

4. UAE

5. USA

Explanation: An environmental friendly bus was introduced in United Kingdom, this is first of its kind in that country. It powered entirely by human and food waste. The service launched between Bristol and Bath. The bus runs on gas generated through the treatment of sewage and food waste that`s unfit for human consumption helps to improve urban air quality as it produces fewer emissions than traditional diesel engines. The bus can travel up to 300km on a full tank of gas generated at Bristol sewage treatment works -a plant run by the company Gene co.


 15) Vazquez belongs to which country? 

Ans : (5)

1. Canada

2. UAE

3. Cuba

4. Cambodia

5. Uruguay

Explanation: Uruguay`s leftist candidate Tabare Vazquez has won in a presidential run-off. Final results gave Vazquez, from the governing Broad Party, 52.8%, compared with 41% for Mr Lacalle Pou, of the right-wing National Party. Vazquez, is a cancer doctor and served as president from 2005-10. He won the first round of voting in October with more than 46% of the vote but it was not enough for an outright majority. Incumbent President Jose Mujica was barred by the constitution from running for a second consecutive term.

 16) Kenyatta was the President of which country? 


Ans : (3)

1. USA

2. Norway

3. Kenya

4. Australia

5. Nigeria

Explanation: Kenyatta was the President of Kenya. Prosecutors at the International Criminal Court (ICC) in The Hague have withdrawn charges of crimes against humanity against Kenya`s President Uhuru Kenyatta. He had been indicted in connection with post-election ethnic violence in 2007-08, in which 1,200 people died. The prosecutor`s office said the Kenyan government had refused to hand over evidence vital to the case. Mr Kenyatta was the first head of state to appear before the court, after he was charged in 2012. About 1,200 people were killed in the violence in 2007-8 and 600,000 were displaced.


 17) Which country has been leading in leading sending man power to fight Ebola? 

Ans : (4)

1. USA


3. UAE

4. Cuba

5. Norway

Explanation: Cuba is ahead of US and UK in fighting Ebola, a deadly disease that hit West Africa. The country is leading the world, in providing medical support fighting against Ebola. During the Ebola emergency, that has devastated West Africa, Cuba leads the world in direct medical support to fight the epidemic. The US and Britain have sent thousands of troops and, along with other countries, promised aid -most of which has yet to materialise. But, as the World Health Organisation has insisted, what`s most urgently needed are health workers. The Cuba, with a population of just 11m and official per capita income of $6,000(3,824), answered that call before it was made. It was first on the Ebola frontline and has sent the largest contingent of doctors and nurses - 256 are already in the field, with another 200 volunteers on their way.


 18) In which country world`s first handcrafter herbal Koran was made? 

Ans : (1)

1. Dubai

2. Kenya

3. Italy

4. Cuba

5. Cambodia

Explanation: The world`s first handcrafted herbal Holy Koran, made from about 200 medicinal plants, has been unveiled in Dubai. The Koran has been made by the Islamic arts and calligraphy company, Heddem Arts and has been crafted over 23 years from 1957 to 1979 by Turkish Unani Doctor Hamdi Taher. The Koran is made of high potency herbal mixtures prepared as per Unani medical system. The herbal-cream-written Koran includes 606 pages and weighs about 7.5 kg.


 19) According to Bangladesh, which is the first country, to recognize Bangladesh? 

Ans : (3)

1. Nepal

2. Bangladesh

3. Bhutan 

4. Srilanka

5. Pakistan

Explanation: Bhutan is the first nation that recognised Bangladesh. Bangladesh`s Foreign Office has said, putting an end to decades old speculation on the issue. According to foreign office of Bangladesh both Bhutan and India had recognised Bangladesh as an independent country on December 6, 1971 but Bhutan`s announcement came hours ahead of India`s official recognition. But the time gap was not specified


 20) According to Telegraph Travel awards, which country is the world`s best country to travel? 

Ans : (5)

1. Denmark

2. Italy

3. Iran

4. Cuba

5. New Zealand

Explanation: The Telegraph Travel Awards named New Zealand as the world`s best country. More than 90,000 people voted for their favourite travel companies and destinations, in what is the widest-ranging travel survey of its kind, the Daily Telegraph reported. New Zealand Prime Minister John Key described the result as a great accolade. The government has invested $600 million in tourism and tourism promotion since 2008, he added. Runners-up in the country category were the Maldives and South Africa, while Cape Town won in the best city category. This is the third year running that New Zealand has won the best country honours


 21) Which of the following country has started asteroid probe on 3rd December? 

Ans : (3)

1. India

2. China

3. Japan

4. Cuba

5. Norway

Explanation: Japan on 3rd December launched a rocket carrying a space probe destined for a distant asteroid, just weeks after a European spacecraft`s historic landing on a comet. The H-IIA rocket blasted off from Tanegashima Space Center in the south of the country. The Japan Aerospace Exploration Agency (JAXA) sent the probe, Hayabusa2, on a six-year mission.


 22) G-Sat16 was launched successfully on...2014?

 Ans : (5)

1. 2nd December

2. 3rd December

3. 4th December 

4. 5th December 

5. 7th December

Explanation: After being deferred twice, India`s latest communication satellite GSAT-16 was successfully launched early on 7th December from the space port of Kourou, French Guiana. Hit by inclement weather, the launch of GSAT-16 was deferred for the second time on 5th December after it was rescheduled to be put into space in the early hours Saturday by Ariane 5 rocket.


 23) Which of the following world organization has launched low-carbon tech platform? 

Ans : (3)


2. IMF

3. ADB


5. None

Explanation: The ADB has launched the world`s first platform to facilitate knowledge sharing on low-carbon clean technology and renewable energy among Asian countries including India. The Cleantech Intellectual Property Assisted Brokerage Platform (IPEx) will be operated by Singapore-based clean energy consulting firm ReEx Capital Asia. In India, the IPEx will team up with Infuse Ventures, IIM-Ahmedabad`s clean tech-focussed fund, to introduce low-carbon technologies in the country.


 24) Who won Macau series?

 Ans : (3)

1. Saina Nehwal

2. Serena Williams

3. PV Sindhu

4. Maria sharapova

5. Kim Hyo

Explanation: Two-time World Championship bronze medallist P.V. Sindhu won her first title of the season by successfully defending the $120,000 Macau Grand Prix Gold trophy after seeing off Kim Hyo Min of Korea in the women`s singles finals, in Macau on 30th November.


 25) Which country has won fourth world cup cricket for the visually challenged?

 Ans : (4)

1. Pakistan

2. Bangladesh

3. Australia

4. India

5. West Indies

Explanation: India defeated defending champion Pakistan to win the fourth cricket World Cup for the visually challenged, on 7th December. In reply to Pakistan`s 389, India scored 392 with two balls to spare. Pakistan beat England in the semi finals, while India ousted Sri Lanka.


26) Who was appointed as the new Director General of Civil Aviation (DGCA)?

 Ans : (3)

1. M Krishna Murthy

2. M Bhavani

3. M Sathiyavathy

4. M. Sathya Durga

5. N. Sathya Durga

Explanation: M Sathiyavathy is additional secretary and financial advisor in the aviation ministry.


 27) What is the new name given to Insurance Regulatory and Development Authority (IRDA)?

 Ans : (2)

1. Insurance Development authority

2. Insurance Regulatory and Development Authority of India

3. India`s Insurance Regulatory

4. Insurance authority of India

5. No new Name determined

Explanation: The amendment was done to IRD Act, 1999 by adding the word `India`.


 28) According to the announcement made by the government, the post of Chairman and Managing Director and CEO would be separated in which type of banks? 

Ans : (1)

1. Public sector Banks

2. Private Sector Banks

3. Both 1 & 2

4. None of the above

5. Depends on the RBI

Explanation: Public Sector Banks (PSBs) are banks where a majority stake (i.e. more than 50%) is held by a government. The shares of these banksare listed on stock exchanges


 29) According to the data published by Comptroller General of Accounts, , India`s fiscal deficit touched 99% of the Budget estimate for the current financial year, in which period of this financial year? 

Ans : (2)

1. September-October

2. April-November

3. April-July

4. June-December

5. July-October

Explanation: April-November. The deficit touched at Rs. 5.25 Lakh Crore.


 30) How much percent of India`s core sector growth was observed in November`2014 compared to 3.2 % growth witnessed in the Nov`2013?

 Ans : (3)

1. 6.2%

2. 6.5%

3. 6.7%

4. 3.4%

5. 8.9%

Explanation: It was increased due to better performance of coal, cement, electricity sectors etc.

 31) Which Indian cricketer has more than 5 million followers on Twitter?


 Ans : (1)

1. Virat Kohli

2. M S Dhoni

3. Sachin tendulkar

4. Yuvraj Singh

5. Bhuvaneshwar Kumar

Explanation: Virat Kohli is followed by Sachin Tendulkar and MS Dhoni.


 32) Among the following, Which committee was formed to ensure safety of the people from India`s north east in Delhi and other major cities? 

Ans : (3)

1. Srinivasan Committee

2. Parthasarathy shome

3. Bezbaruah Committee

4. Sheethal Committee

5. None

Explanation: The Bezbaruah committee was constituted under the chairmanship of M P Bezbaruah in February `2014.


 33) Who is the ISRO Chairperson who was retired on 31st Dec`14? 

Ans : (2)

1. K Krishna Murthy

2. K Radha Krishnan

3. K. Sathya Murthy

4. Both 1 & 2

5. Both 2 & 3

Explanation: K Radhakrishnan, Chairman is a recipient of Padma- Bhushan, the third highest civilian award, was recently chosen as one of the top ten scientific personalities in 2014 by Nature Science Journal.


 34) Name the state that has launched the Online RTI Application Filling Facility? 

Ans : (2)

1. Goa

2. Maharashtra

3. Madhya Pradesh

4. Gujarath

5. Odisha 

Explanation: This facility will be available in two languages namely Marathi and English.


 35) Among the 32 Websites , the government lifted the ban on how many websites on 2nd Jan`15? 

Ans : (4)

1. 1

2. 2

3. 3

4. 4

5. 5

Explanation: 4 websites are,, and The sites can now be accessed freely.


 36) The CBI has constituted how many special teams to fast-track probe in the alleged 45 thousand crore rupees Ponzi Scam.? 

Ans : (2)

1. 1

2. 4

3. 2

4. 3

6. 6 

Explanation: ponzi scam related to Pearls Agrotech Corporation Limited (PACL) and Pearls Golden Forest Limited (PGF)-Pearls Group. The CBI has examined Managing Director of the group in connection with the scam and might consider sending Letters Rogatory to Australia to get details of his business interests in that country.


 37) The Sports Ministry on 2nd Jan`15 cleared the name of National Boxing Federation of India as----------?

Ans : (1)

1. Boxing India (BI)

2. India Boxing

3. All India Boxing (AIB)

4. Boxing all India (BAI)

5. None

Explanation: Boxing India is already recognized as a permanent member of the International Boxing Association (AIBA). The Sports Ministry stated that the matter was examined in detail and it has no objection to the registration of `Boxing India` to be the new governing body of the sport.


 38) The 102nd Edition of the Indian Science Congress was inaugurated by PM Narendra Modi in.........?

 Ans : (3)

1. Patna

2. Panaji

3. Mumbai

4. Bangalore

5. Hyderabad

Explanation: The Theme is Science and Technology for Human Development.


 39) Which bank launched its own digital village project while adopting Akodara village in Gujarat to provide services ranging from cashless banking to digitize school teaching?

 Ans : (3)

1. Canara Bank

2. Axis Bank

3. ICICI Bank

4. State Bank of India

6. Indian Bank

Explanation: ICICI Bank adopted Akodara village of Sabarkantha district under its `Digital Village` pilot project to boost Centre`s `Digital India` drive.


 40) For Non-Banking Financial Companies, whom had relaxed KYC rules due to practical difficulties and constraints in getting KYC documents at frequent intervals?

 Ans : (1)

1. RBI

2. Central Govt

3. State Govt in those States

4. Both 2 & 3

5. None

Explanation: A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956 engaged in the business of loans and advances, acquisition of shares/stocks/bonds/debentures/securities issued by Government or local authority or other marketable securities of a like nature, leasing, hire-purchase, insurance.


 41) On 4th Jan 2015 which country had celebrated the Independence Day? 

Ans : (2)

1. Malaysia

2. Myanmar

3. Bhutan

4. Bangladesh

5. Srilanka

Explanation: Myanmar has marked its 67th Independence Day with a military parade in the capital city of Naypyitaw.


 42) Among the following, who is the player who won the Chennai Open FIDE Rating Tournament (Chess title) held on 3rd Jan`15?

 Ans : (1)

1. Anil Kumar

2. Arjun Kumar

3. Arun Kumar

4. Akhilesh Kumar

5. Naresh Kumar

Explanation: O T Anilkumar belongs to Kerala. The second place was shared by Dusthageer Ibrahim M, Toshali V and Harshini A at 7.5 points.


 43) Which player among these won the ATP World Tennis Championship in Abu Dhabi on 3rd Jan`15 as world number one Novak Djokovic withdrew from the final match?

 Ans : (2)

1. Andry Agassi

2. Andy murray

3. John Taylor

4. Both 1& 2

5. None 

Explanation: Andy Murray has won his first title of 2015.


 44) Iris is the part of the biggest telescope ever will be developed by which country?

 Ans : (3)

1. USA

2. Russia

3. India

4. England

7. France

Explanation: India is all set to make sensors and actuators that will keep the huge mirror of the biggest telescope in place.


 45) Identify in which month of the year 2015, there will be no communication of ISRO with the Mars Orbiter Mission (MOM)?

 Ans : (3)

1. July 2015

2. August2015 

3. June 2015 

4. September 2015

5. December 2015 

Explanation: The blackout will be from June 8 to 22 because the Sun will come between Earth and Mars, blocking the view of the Red Planet.


 46) Krishna Chaudary has been appointed Chief? 

Ans : (1)


2. IPS

3. IAS

4. IFS

5. Indian Army

Explanation: The 1979-batch Bihar cadre officer is presently working as the Director General of the Railway Protection Force. The post of ITBP DG has been vacant since January 1 after the retirement of Subhas Goswami on December 31 last year.


 47) Novak Djokovic has won the Australian Open Men`s singles title held in which city on 1st Feb`15? 

Ans : (1)

1. Melbourne

2. Sydney

3. Paris

4. Washington

5. Beijing

Explanation: Serbia`s Novak Djokovic won the Men`s singles title defeating Andy Murray. The victory means Djokovic stays at world number one on the next ATP rankings when they are released on Monday.


 48) Name the female player who has won the Australian Open Women`s singles title held in Melbourne on 1st Feb`15? 

Ans : (2)

1. Venus Williams

2. Serena Williams

3. Sania Mirza

4. Maria Sharapova

5. Cara Black

Explanation: Serena Williams bagged the Women`s Singles title for the sixth time when she defeated second seeded Russian Maria Sharapova.


 49) Who among the following players have lifted the Mixed Doubles trophy of the Australian Open, the first Grand Slam of the season on 1st Feb`2015? 

Ans : (4)

1.Daniel Nestor & Kristina Mladenovic

2. Sania Mirza & Leander Paes

3. Andy Murray & Maria Sharapova 

4. Leander Paes & Martina Hingis

5. None

Explanation: The seventh seeded Indo-Swiss pair of Paes and Hingis defeated the higher placed Canadian-French team of Daniel Nestor and Kristina Mladenovic.


 50) Name the country which has one-day international tri-series at Perth, Australia on 1st Feb`15? 

Ans : (3)

1. India 

2. England

3. Australia

4. England

5. None of these

Explanation: Australia clinched the one-day international tri-series at Perth today as they beat England by 112 runs in the final. Starc was declared man of the series while Glenn Maxwell was adjudged Man of the match.