Economy Current Affairs Quiz/Questions-Answers June 2011, June 6-June 12

1. The Union government on 3 June 2011 amended guidelines for Public Financial Institutions (PFIs) permitting private companies, primarily engaged in infrastructure funding, to attain the status of a PFI. Which of the following conditions is not required for the company to attain PFI status?
a.    A company should be established under a special Act or the Companies Act
b.    The company’s main business should be related to power equipment construction & power related activities.
c.    The company must be in existence for at least 3 years and their financial statement should show that their income from the area exceeds 50 per cent of their income.
d.    The companies should have a net-worth of Rs 1,000 crore.
Answer: (b)

2. Which body on 3 June 2011 permitted Urban cooperative banks (UCBs) to give loans to self help groups (SHGs) to promote financial inclusion in the country?
a.    Ministry of Finanace
b.    RBI
c.    NABARD
d.    CCI
Answer: (b)

3. Which body imposed a penalty of Rs 14 crore on Dushyant Natwarlal Dalal and Puloma Dushyant Dalal who were the two financiers for unlawful gains made during the infamous IPO scam of 2003-05?
a.    IRDA
b.    SEBI
c.    RBI
d.    Supreme Court
Answer: (b)

4. Consider the following statements:
1.    A committee on natural resources allocation called for the creation of a national coal market to ensure greater transparency in the allocation of the dry fuel and reduce the demand-supply mismatch.
2.    The operation of the platform, which would be owned by FICCI and register all approved users, could be regulated by the proposed coal regulator.
3.    The committee highlighted that introduction of both captive mining and e-auctions were right steps taken in the direction of moving toward market-based allocation.
4.    The committee headed by former Finance Secretary Sumit Bose recommended creation of a platform for commercial trading of coal by suppliers and buyers
Which of the above statement/statements is/are true?
a.    2 & 4
b.    1 & 3
c.    1 & 2
d.    2 & 3
Answer: (b)

5. With regard to the new food security bill prepared by the food ministry which of the following statement/ statements is/are false?
1.    All BPL households would be given 7 kg per person or 35 kg per family of government-held grains at a subsidised price of R1 a kg for millet, wheat for R2 a kg and rice for R3 a kg.
2.    Those above the poverty line would get 8 kg of grains per person, though the NAC had recommended 5 kg per person
3.    The new bill also provides for cash benefits to meet enhanced food requirements of pregnant women, who would get Rs 1000 for first six months of pregnancy.
4.    Under the new bill, entitlements for BPL households are wholly in line with the NAC’s draft food bill which was made public on 7 June 2011.
a.    1 & 2
b.    Only 2
c.    1 & 3
d.    3 & 4
Answer: (b)

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Posted on June 12, 2011, in Economy Current Affairs Quiz, India Current Affairs Quiz, June Current Affairs Quiz, Quiz. Bookmark the permalink. Leave a comment.

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