Post Views: 57
11. The Government of India has recently decided to update the base year for calculating GDP from 2011-12 to ________.
[A] 2020-21
[B] 2021-22
[C] 2022-23
[D] 2023-24
Correct Answer: C [2022-23]
Notes:
The Government of India has made a recent decision to revise the base year for the calculation of Gross Domestic Product (GDP) from 2011-12 to 2022-23. This adjustment is intended to offer a more precise depiction of the contemporary economic environment and to improve the formulation of policies. The update takes into account changes in economic activities, consumer behavior, and advancements in various industries over the last ten years.
12. Recently, which bank has received RBI approval to acquire stake in Kotak Mahindra Bank, through its group entities?
[A] HDFC Bank
[B] ICICI Bank
[C] Axis Bank
[D] SBI Bank
Correct Answer: A [HDFC Bank]
Notes:
HDFC Bank, the biggest private bank in India, has gotten the go-ahead from the Reserve Bank of India (RBI) to buy as much as a 9.5% share in Kotak Mahindra Bank, AU Small Finance Bank, and Capital Small Finance Bank. This plan will be carried out through its group companies, such as HDFC Mutual Fund, HDFC Life Insurance, HDFC ERGO General Insurance, and HDFC Pension Fund Management. The RBI’s approval lasts until January 2, 2026.
13. Which city became the first city to implement congestion pricing in the United States?
[A] Los Angeles
[B] New York
[C] Chicago
[D] Houston
Correct Answer: B [New York]
Notes:
On January 5, 2025, New York City made history as the first city in the United States to adopt congestion pricing. This measure is designed to reduce traffic congestion in heavily populated regions. Vehicles entering Manhattan’s central business district will be charged a fee of $9 during peak traffic hours. In 2023, New York City faced significant traffic delays, positioning it among the most congested cities worldwide. Comparable approaches have been effectively implemented in cities such as Singapore, London, Stockholm, and Milan.
14. Recently, which of the following has implemented regulation requiring lenders to update credit bureau records every 15 days?
[A] RBI
[B] SBI
[C] Ministry of Finance
[D] Ministry of Corporate Affairs
Correct Answer: A [RBI]
Notes:
As of January 1, 2025, the Reserve Bank of India (RBI) has instituted a regulation that mandates lenders to refresh credit bureau records every 15 days. This initiative is designed to improve the precision and promptness of credit score assessments, thereby providing a more immediate reflection of borrowers’ financial behaviors. Historically, updates were conducted on a monthly basis, which frequently resulted in delays in accurately portraying loan repayments and defaults. The RBI announced this requirement in August 2024, providing lenders and credit bureaus with sufficient time to modify their systems accordingly.
15. What is India’s projected GDP growth rate for the financial year 2024-25?
[A] 5.6%
[B] 6.4%
[C] 7.7%
[D] 5.4%
Correct Answer: B [6.4%]
Notes:
India’s GDP is expected to rise by 6.4% in the fiscal year 2024-25, down from 8.2% in 2023-24. This is the slowest growth rate in four years, showing a decrease in economic activity. The Ministry of Statistics & Programme Implementation (MoSPI) released these figures, which also show a slight increase in nominal GDP to 9.7%. The drop in growth is due to difficulties in several sectors, such as agriculture, construction, and services, affecting the overall economy.
