Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Current Affairs June > ECONOMY > Flashcards

ECONOMY Flashcards

1
Q

Which committee recommended the Economic Capital
Framework (ECF) advising the Reserve Bank of India to
maintain a Contingent Risk Buffer (CRB) between 5.5%
and 6.5% of its balance sheet?

A

Bimal Jalan Committee

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

As of 2024, who is serving as the Governor of the
Reserve Bank of India (RBI)?

A

Shaktikanta Das (incumbent governor of RBI)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Under which section of the Reserve Bank of India Act,
1934, does the RBI transfer its surplus, defined as the
excess of income over expenditure, to the government
as dividends?

A

S.47

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Which formula best describes the calculation of “surplus”
in financial terms?

A

Surplus = Total Income - Total Expenditure

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

When was the Reserve Bank of India (RBI) nationalised?

A

1 Jan,1949

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

when was RBI est ?

A

April 1, 1935

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

RBI statutory background

A

Reserve Bank of India Act,
1934

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

HQ of RBI

A

Mumbai

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Governor of the Reserve Bank of
India (1997–2003)

A

bimal jalan

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Which authority is the adjudicating body for corporate
insolvency resolution under the IBC, 2016?

A

The National Company Law Tribunal (NCLT)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

What is the duration of the legal action prohibition
period during the insolvency resolution process under
the IBC, 2016?

A

180 days

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

What term is used to describe the situation where an
entity’s liabilities exceed its assets and it cannot meet
its immediate financial obligations?

A

Insolvency

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Who appoints the Chairperson and full-time members of
the Insolvency and Bankruptcy Board of India (IBBI)?

A

The Govt of India

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

What is the full form of UNCITRAL, as referred to in the
context of the Cross-Border Insolvency Framework?

A

United Nations Commission on International Trade
Law

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

______is the regulatory
body overseeing the implementation of the IBC. It frames regulations and guidelines for
insolvency professionals and processes.

A

The Insolvency and Bankruptcy Board of India (IBBI)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

As of FY24, creditors have recovered approximately_____ from 947 financially stressed companies,
which is about 32.1% of their claims since the inception of the IBC in 2016.

A

₹3.36 lakh crore

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

The average recovery rate is projected to remain between _____of claims in FY25.

A

30-35%

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

The National Company Law
Tribunal (NCLT) approved a
record ______ resolution plans
in FY24

A

269

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

Since the inception of the IBC, around _____ of the 5,467 closed Corporate Insolvency Resolution Processes (CIRPs) have
ended in liquidation, while only _____ resulted in resolution plans.

A

45%,17%

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

The IBC has facilitated the resolution of 891 cases involving loan defaults worth ₹10 lakh crore till December 2023. This
has led to the recovery of ___ , which is 32% of the total admitted claims by banks and financial institutions.

A

₹3.2 lakh crore

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

The Insolvency and Bankruptcy Code (IBC) was
enacted by the Indian Parliament in

A

2016

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

Insolvency and Bankruptcy Code (IBC), 2016 replaces multiple laws governing insolvency, such as

A

the Sick Industrial Companies
Act, 1985 (SICA), and the Presidency Towns Insolvency Act, 1909

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

How much gold did the Reserve Bank of India repatriate
from the UK to its domestic vaults recently?

A

100 tonnes

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

Which mining area in India is known as one of the world’s
oldest and deepest gold mines?

A

kolar gold fields located in the
Kolar district of Karnataka . Karnataka is
responsible for about 80% of the nation’s total gold
output.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

Which state in India has the highest percentage of gold
ore resources?

A

bihar (44%) followed by
Rajasthan (25%), Karnataka (21%), West Bengal (3%),
Andhra Pradesh (3% ), Jharkhand (2 %).

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

Under the Bretton Woods System, how was the US
dollar linked to gold?

A

Convertible to gold at USD 35 per ounce

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
Q

the Bretton Woods system became
fully functional in

A

1958

25
Q

Major Buyers of Gold in the World

A

china 2,010 tonnes ,russia 2,299 tonnes ,turkey 500 tonnes ,india,poland

26
Q

major Gold vault in the USA is the

A

the Federal Reserve Bank of New York.

26
Q

Indian has chosen to store a significant portion of its gold reserves with

A

the Bank of England and
Bank for International Settlements.

27
Q

As of 2023-24, which position does the Netherlands
hold among India’s largest export destinations globally?

A

3rd

28
Q

Since when have India and the Netherlands maintained
diplomatic and economic relations?

A

1947

29
Q

Which of the following is not a bordering entity of the
Netherlands?

A

France
The Netherlands is bordered by the North
Sea , Germany , and
Belgium

30
Q

What is the capital of the Netherlands?

A

Amsterdam

31
Q

What was the growth rate of India’s exports to the
Netherlands in the fiscal year 2023-24?

A

3.5%
The growth rate of India’s exports to the
Netherlands in the fiscal year 2023-24 was approximately
3.5%, increasing from USD 21.61 billion in the previous
fiscal year to USD 22.36 billion.

32
Q

The World Wealth Report 2024, published by

A

Capgemini

33
Q

How many countries are covered in the World Wealth
Report 2024?

A

71

34
Q

Which country in the APAC region recorded a high-networth individual (HNWI) wealth growth of 12.4% in
2023?

A

india

35
Q

What was the growth rate of the HNWI population in
India in 2023?

A

12.2% reaching a
total of 3.589 million

36
Q

How many categories are high-net-worth individuals
segmented into based on wealth bands?

A

3

37
Q

The region continues to lead
in HNWI wealth and population, driven by
strong market performance and economic
stability

A

north america

38
Q

How many people live in countries where interest
payments on debt exceed spending on education or
health?

A

3.3 billion

38
Q

What is the title of the report released by UNCTAD that
discusses the global debt crisis?

A

A World of Debt 2024: A Growing
Burden to Global Prosperity

39
Q

Who released the report on the global debt crisis

A

United Nations Trade and Development (UNCTAD)

40
Q

Global public debt surged by $5.6 trillion from the previous year, reaching _____
Developing countries account for nearly____ of this debt, with significant portions held by China, India, and Brazil.

A

$97 trillion,30%

40
Q

How many African countries had debt-to-GDP ratios
above 60% in 2023?

A

27

41
Q

In 2024, India initiated arbitration proceedings against Australia under the

A

World Trade Organization (WTO) rules

42
Q

Under which article of the Understanding on Rules and
Procedures Governing the Settlement of Disputes (DSU)
was the WTO’s Appellate Body established?

A

Article 17

43
Q

Which city is the headquarters of the WTO?

A

Geneva

43
Q

Where did the WTO nations (70 nations )agree to the Joint Statement
Initiatives in February 2024?

A

Abu Dhabi

44
Q

When did the General Agreement on Goods in Services
(GATS) come into force?

A

1995

45
Q

Who oversees the establishment of a dispute settlement
panel in the WTO?

A

Dispute Settlement Body

46
Q

The WTO was officially formed on

A

January 1, 1995,succeeding the General Agreement on Tariffs and Trade (GATT)
that was established in 1948.

47
Q

members of WTO

A

the WTO has 164 member countries,
representing over 98% of total world trade.

48
Q

What is the projected global growth rate for the year
2024 according to the World Bank’s Global Economic
Prospects report?

A

2.6%

49
Q

Which region is expected to see a deceleration in
growth to 6.2% in 2024, according to the World Bank’s
forecasts?

A

South Asia

50
Q

What is the forecasted growth rate for low-income
countries in 2024, as reported in the World Bank’s Global
Economic Prospects?

A

5.5%

50
Q

What are the significant challenges facing Sub-Saharan
Africa as mentioned in the World Bank’s Global
Economic Prospects report?

A

Political instability, conflict, and
debt-service costs

51
Q

Which country in South Asia is expected to maintain
robust growth, according to the World Bank’s 2024
projections?

A

Bangladesh

52
Q

World Bank est

A

July 1944

53
Q

World Bank created during and when did it start its operation

A

Created during the Bretton Woods
Conference and began operations in 1946

54
Q

HQ of world Bank ? members of it ?

A

Washington, D.C., USA.
189 member countries,

55
Q

: Growth in developing economies is forecasted to slow to _____ in 2024

A

3.9%
global growth to stabilize at 2.6%

56
Q

This region is projected to see growth pick up to 3.5% in 2024 and average around 4% in 2025-
2026

A

Sub saharan africa

57
Q

this region ‘s Growth is forecasted to decelerate from 2.2% in 2023 to 1.8% in 2024, before
picking up to 2.7% in 2025

A

Latin America and the Caribbean

Current Affairs June (6 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions