Current Affairs Flashcards
Which country has decided to give full market access- zero duty access to India?
Australia for the span of 5 years
What was the total GST collection in FY 22?
Rs 14.83 Trillion
What is the direct tax collection (Comprising Income tax and Corporation tax) in FY 22?
Rs 13.81 Trillion
Which company took over discom ops in 2 union territories?
Torrent Power on Friday announced a formal takeover of the power distribution operations in the Union Territories (UTs) of Dadra & Nagar Haveli, Daman and Diu, becoming one of the first UTs to be privatised under the gover - nment's scheme
Has the Global market turned more lucrative for auto
companies compared than domestic segment in FY 22?
Among the passenger vehicle makers, market leader Maruti Suzuki led
the rally with its overseas shipments touching a record level of 2,38,376 units
in FY22 — the highest for the company in any financial year.
Reason for the same:
- Weakening Rupee
Mexico, South Africa, Saudi Arabia, the US and Australia are
some of the export destinations for passenger vehicle makers.
Mexico is the biggest market followed by Australia
Tell me something about Jaypee Infratech
AUG 2017: Jaypee Infra sent
to IBC for debt resolution
DEC 2019: NBCC India
emerges highest bidder
MAR 2020: NCLT clears NBCC India plan with modifications NBCC appeals to NCLAT against NCLT modification
APR: SC transfers all cases
to itself
MAR 2021: SC orders CoC
to complete entire
process in 45 days
JUN: CoC clears Suraksha
ARC’s bid of ~7,736 cr against
NBCC offer ~6,536 cr
Suraksha Realty had made the winning offer of ~7,736 crore against the government- owned NBCC India’s ~6,536-crore offer in June last year. Subsequently, Suraksha’s offer was cleared by the Committee of Creditors and was submitted to the NCLT for clearance. “In spite of the large haircut, the lenders were expecting the resolution to be over in the March quarter and free their capital,” the source said. Haircut is the amount banks forego to regularise a defaulting loan account. But objections from ICICI Bank, Yamuna Expressway Industrial Development Authority, and Jaiprakash Associates, its parent firm, have delayed the process at the NCLT, the source said. ICICI Bank is seeking cash instead of land offered in the resolution plan by Suraksha Realty
Recently Bharti Airtel sold properties (4 reality assets worth Rs 5000 cr ) to which company ?
Brookfield asset management, Canada based
What is happening with Future Retail?
Debt-ridden Future Retail
(FRL) on Friday said it has
missed the due date for repayment
of ~5,322.32 crore to
lenders on account of the
ongoing litigations with ecommerce
major Amazon and
other related issues.
Last year, FRL had entered
into a one-time restructuring
(OTR) scheme for Covid-hit
companies with a consortium
of banks and was under obligation
to raise ~3,900 crore
before March 31, 2022, by way
of equity contribution.
“Further, considering the
infusion of capital, there was
an obligation on the company
to pay an aggregate amount of
~5,322.32 crore to various consortium
banks and lenders
(who are parties to the agreement
under OTR Plan) on or
before 31st March, 2022 ('due
date')," it said.
However, the company said
"due to ongoing litigations with
Amazon.com NV Investment
Holdings LLC and other connected
issues", it was not able
to raise funds by way of equity
contribution.
Also, the payment of obligations
on due date, including
monthly interest overdue for
February and March 2022,
remain unpaid as on date, the
company said in a regulatory
filing. Noting that it was in discussions
with the lenders on
the matter, FRL said, "the company
shall intimate the further
developments and updates in
this connection as and when
applicable".
The Future Group firm had
missed an earlier deadline on
December 31, 2021 for payment
of ~3,494.56 crore to the banks.
On Thursday, FRL’s CEO
Sadashiv Nayak resigned
from the post seven months
after his appointment. Earlier
this month, the company's
director Rahul Garg also put
in his papers.
FRL, which operates various
formats such as Big
Bazaar, Koryo, Foodhall and
Easyday, is among the 19
Future Group companies,
which would be transferred to
Reliance Retail as part of
~24,713 crore deal announced
in August 2020.
The deal is contested by ecommerce
major Amazon and
is under litigation at various
forums including Supreme
Court, Delhi High Court and
Singapore International
Arbitration Center.
This has also forced
Reliance Retail Ventures, the
retail arm of Reliance
Industries, to go for extension
of the long-stop date for the
scheme for completing the
deal with the Future Group.
In February, RRVL took
over the operations of at least
300 stores of FRL and has
offered jobs to its employees
after the Kishore Biyani-led
group failed to make lease payments
to landlords.
Last month, FRL said it is
"committed" to the reversal of
the takeover of its stores by
RRVL and takeWho is the chairman and managing director of HAL?
R Madhavan
Regional Rural Banks should be allowed to transition to SFB. Which report has mentioned the same?
Regional rural banks should be given the option to graduate into
small finance banks (SFBs) in line with cooperative banks or be
granted on-tap licenses to become SFBs, State Bank of India (SBI)
Research said in its report. “In keeping with the fast-paced
changes in the banking space and to facilitate growth, a scheme
for voluntary transition of Urban Co-operative Banks (UCBs) into
SFBs was introduced in September 2018. RRBs may also be
permitted to graduate into SFB in line with Cooperative banks or
granted on-tap licence to become SFBs,” the report said. In fact,
some of the large regional rural banks are bigger than the SFBs
operating in the market. India’s largest RRB in terms of size of
business — Baroda U.P. Bank (~72,015 crore) is bigger than the
largest SFB (AU SFB) — which has business (deposits + advances)
size of ~70,588 crore as of March 2021.
How many households benefitted from MNREGA in FY 22?
In FY22, until March 31, 2022, around 72.4 million households got work under the scheme, which makes it the second consecutive year when more than 70 million households have benefited from the MGNREGA.
Who is the foreign minister of Russia?
Russian Foreign Minister Sergey Lavrov
What is difference between Free on Board basis vs CIF Model?
- The main difference between CIF and FOB is the party that is responsible for the goods while they are in transit. With a CIF agreement, the seller is liable for the goods during transit, and with a FOB, the buyer is liable for the goods during transit.
- Under CIF contracts, the seller assumes responsibility for costs and liabilities until the shipment arrives at the destination, at which time the risk is transferred to the buyer.
- Under FOB contracts, the buyer is responsible for shipping and other costs, as well as insurance as soon as the goods are loaded onto the vessel and during the voyage.
What is difference between Free on Board basis vs CIF Model?
- The main difference between CIF and FOB is the party that is responsible for the goods while they are in transit. With a CIF agreement, the seller is liable for the goods during transit, and with a FOB, the buyer is liable for the goods during transit.
- Under CIF contracts, the seller assumes responsibility for costs and liabilities until the shipment arrives at the destination, at which time the risk is transferred to the buyer.
- Under FOB contracts, the buyer is responsible for shipping and other costs, as well as insurance as soon as the goods are loaded onto the vessel and during the voyage.
NBCC Limited?
National Buildings Construction Corporation (NBCC) is a blue-chip under the ownership of Ministry of Housing and Urban Affairs, Government of India.[4]
The government corporation’s present areas of operations are categorized into three main segments, i.e. (i) Project Management Consultancy (PMC), including redevelopment of government properties, (ii) Engineering, Procurement & Construction (EPC) and (iii) Real Estate Development.
Ministry of Housing and Urban Affairs (MoHUA), Government of India, is a federal ministry with executive authority over the formulation and administration of the rules and regulations and laws relating to the housing and urban development in India. The ministry was under the charge of Venkaiah Naidu and was given to Hardeep Singh Puri when Naidu was elected Vice President of India.[2] The Ministry became independent from the Ministry of Housing and Urban Poverty Alleviation in 2004,[3] but was later re-merged with it in 2017.[4]
The ministry also published the National City Rating, which ranked the cleanest cities in India, under which Indore was rated as the cleanest.[5]
