Quiz on Economy and Business

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Introduction
Quiz on Economy and Business: Test your knowledge on recent milestones, mergers, and business moves in India’s economic landscape with this engaging quiz!

Quiz on Economy and Business: One-liner Questions

1. Which Indian company became the first to exceed ₹10 lakh crore in annual revenue?
2. Who announced Reliance Industries Limited’s record turnover for 2023-24?
3. What was RIL’s consolidated turnover in the financial year 2023-24?
4. What was the net profit of RIL for the financial year 2023-24?
5. How much of a stake is the Union Ministry of Finance planning to divest in GIC Re?
6. What is the expected amount to be raised by the divestment of GIC Re’s stake?
7. When did the Union Ministry of Finance last conduct a stake sale in GIC Re?
8. Who can bid for GIC Re shares on the first day of the offer-for-sale?
9. What milestone did Star Health and Allied Insurance achieve for visually impaired individuals?
10. What significant change has Kotak General Insurance undergone?
11. Which global insurance giant acquired a 70% stake in Kotak General Insurance?
12. What is the rebranded name of Kotak General Insurance after the acquisition?
13. What milestone did Paysharp achieve in August 2024?
14. Who granted final authorization to Paysharp?
15. Which two organizations collaborated on the ‘Xtra Credit Card’?
16. What sector does the Xtra Credit Card by RBL Bank aim to grow?
17. Why is the RBI scrutinizing RBL Bank’s new credit card launch?
18. Which Indian business group’s merger proposal was cleared by the Competition Commission of India?
19. What will Tata Motors Finance Limited merge into?
20. What tool did Adani Airports Holdings Limited introduce for enhancing airport operations?
21. What type of information does the Aviio application provide?
22. What increase has NPCI made regarding UPI tax payment limits?
23. What is the new transaction limit for UPI tax payments allowed by NPCI?
24. Which company was selected by LIC to develop its digital platform under the DIVE programme?
25. What initiative was launched by NIFT to elevate Indian culture and design globally?
26. What combination does VisioNxt use for trend insights?
27. Which facility houses India’s largest blast furnace?
28. Where is Tata Steel’s Kalinganagar facility located?
29. What will Tata Steel’s Phase II expansion increase the plant’s capacity to?
30. Who represented India at the 9th AIIB Board of Governors meeting in Uzbekistan?
31. Which country hosted the 9th AIIB Board of Governors meeting in September 2024?
32. Which new airline aims to become Uttar Pradesh’s first scheduled airline?
33. What are the planned hubs for Shankh Air?
34. When is Shankh Air expected to make its debut?
35. What is the focus of Shankh Air’s flight operations?

Answers

1. Reliance Industries Limited (RIL).
2. Mukesh Ambani.
3. ₹10,00,122 crore (USD 119.9 billion).
4. ₹79,020 crore (USD 9.5 billion).
5. 6.78%.
6. Approximately ₹4,700 crore.
7. 2017
8. Non-retail investors.
9. Introduction of an insurance policy in Braille.
10. Transformative rebranding to Zurich Kotak General Insurance.
11. Zurich Insurance Group.
12. Zurich Kotak General Insurance.
13. Received final authorization from the Reserve Bank of India.
14. Reserve Bank of India (RBI).
15. RBL Bank and Indian Oil Corporation.
16. Credit card portfolio growth.
17. Rapid growth of the riskier unsecured credit segment.
18. Tata group.
19. Tata Capital Limited.
20. Aviio application.
21. Real-time information like waiting times, gate changes, and baggage updates.
22. Increased transaction limits for tax payments using UPI.
23. ₹5 lakh in a single transaction.
24. Infosys.
25. VisioNxt.
26. Artificial Intelligence (AI) and Emotional Intelligence (EI).
27. Kalinganagar facility.
28. Odisha.
29. From 3 million tonnes per annum (MTPA) to 8 MTPA.
30. Nirmala Sitharaman.
31. Uzbekistan.
32. Shankh Air.
33. Lucknow and Noida International Airport.
34. End of 2024.
35. Both inter- and intra-state routes with high demand.

Additional Questions with Answers

36. What is the name of the new digital platform LIC aims to develop?
    Answer: DIVE (Digital Innovation and Value Enhancement).
37. Which tech company will collaborate with LIC for its next-generation digital platform?
    Answer: Infosys.
38. What is the primary goal of LIC’s DIVE programme?
    Answer: To enhance customer services, business lifecycle management, and operational activities.
39. What is the name of NIFT’s initiative for fashion forecasting?
    Answer: VisioNxt.
40. What does NIFT’s VisioNxt aim to elevate?
    Answer: Indian culture and design on a global scale.
41. Which elements does VisioNxt combine for its trend insights?
    Answer: Artificial Intelligence (AI) and Emotional Intelligence (EI).
42. What was Tata Steel’s investment for its Phase II expansion?
    Answer: ₹27,000 crore.
43. What is the planned increase in capacity for Tata Steel’s Kalinganagar plant?
    Answer: From 3 MTPA to 8 MTPA.
44. Where was the 9th AIIB Board of Governors meeting held?
    Answer: Samarkand, Uzbekistan.
45. Who represented India at the AIIB Board of Governors meeting in 2024?
    Answer: Nirmala Sitharaman.
46. Which Indian airline is set to debut as Uttar Pradesh’s first scheduled airline?
    Answer: Shankh Air.
47. What airports will serve as hubs for Shankh Air?
    Answer: Lucknow and Noida International Airport.
48. What is the primary focus of Shankh Air’s operations?
    Answer: Both inter- and intra-state routes.
49. Which insurance provider launched an inclusive policy in Braille?
    Answer: Star Health and Allied Insurance.
50. What makes Star Health’s policy in Braille significant?
    Answer: It empowers visually impaired individuals to access insurance independently.
51. Which two organizations collaborated on the ‘Xtra Credit Card’?
    Answer: RBL Bank and Indian Oil Corporation.
52. What is the objective behind the launch of RBL Bank’s new credit card?
    Answer: To moderately grow its credit card portfolio and enhance customer engagement.
53. What challenge does RBL Bank face from the RBI regarding its credit card launch?
    Answer: Scrutiny over the rapid growth of the riskier unsecured credit segment.
54. What was the key purpose of the Tata Motors Finance Limited merger into Tata Capital Limited?
    Answer: To mark a significant consolidation into Tata group financial services.
55. Which regulatory body cleared the Tata Motors Finance merger proposal?
    Answer: Competition Commission of India (CCI).
56. What is the purpose of the Aviio application introduced by Adani Airports Holdings Limited?
    Answer: To enhance airport operations with real-time information.
57. What type of updates does Aviio provide to users?
    Answer: Waiting times, gate changes, and baggage updates.
58. By how much did NPCI increase the transaction limits for UPI tax payments?
    Answer: Up to ₹5 lakh in a single transaction.
59. What specific tax payments are affected by the increased UPI transaction limit?
    Answer: Direct and indirect tax payments.
60. Which organization selected Infosys for developing its next-generation digital platform?
    Answer: Life Insurance Corporation of India (LIC).
61. What is the goal of LIC’s new digital platform under the DIVE programme?
    Answer: To offer an integrated end-to-end digital solution.
62. Which global insurance company took a major stake in Kotak General Insurance?
    Answer: Zurich Insurance Group.
63. How much of a stake did Zurich Insurance acquire in Kotak General Insurance?
    Answer: 70%.
64. What new brand identity emerged from the acquisition of Kotak General Insurance?
    Answer: Zurich Kotak General Insurance.
65. What milestone did Paysharp achieve from the Reserve Bank of India?
    Answer: Final authorization in the payment system ecosystem.
66. When did Paysharp receive final RBI authorization?
    Answer: August 30, 2024.
67. What sector is Paysharp contributing to within India?
    Answer: Dynamic payment system ecosystem.
68. Which Indian company recently exceeded ₹10 lakh crore in annual revenue?
    Answer: Reliance Industries Limited (RIL).
69. What was RIL’s record consolidated turnover for FY 2023-24?
    Answer: ₹10,00,122 crore (USD 119.9 billion).
70. Who is the chairman of Reliance Industries Limited?
    Answer: Mukesh Ambani.
71. How much net profit did RIL achieve for FY 2023-24?
    Answer: ₹79,020 crore (USD 9.5 billion).
72. What percentage stake is being divested in GIC Re by the government?
    Answer: 6.78%.
73. How much money is the government aiming to raise through the GIC Re stake sale?
    Answer: Approximately ₹4,700 crore.
74. What type of sale is the government using to divest its stake in GIC Re?
    Answer: Offer-for-sale (OFS).
75. Who can bid on GIC Re shares on the second day of the offer-for-sale?
    Answer: Retail investors and GIC employees.
76. Which health insurance company took a step for inclusivity by introducing Braille policies?
    Answer: Star Health and Allied Insurance.
77. What significant rebranding occurred in Kotak General Insurance?
    Answer: It became Zurich Kotak General Insurance.
78. What company received final authorization for payments from RBI on August 30, 2024?
    Answer: Paysharp.
79. Which private lender launched the Xtra Credit Card in collaboration with Indian Oil?
    Answer: RBL Bank.
80. What is the primary feature of the Aviio app introduced by Adani Airports?
    Answer: Real-time airport operation updates.
81. Who selected Infosys for its DIVE programme?
    Answer: Life Insurance Corporation of India (LIC).
82. What is VisioNxt’s primary goal as launched by NIFT?
    Answer: To foster global competition and promote Indian design.
83. What two types of intelligence does VisioNxt incorporate?
    Answer: Artificial Intelligence (AI) and Emotional Intelligence (EI).
84. Which Indian state is the location of Tata Steel’s Kalinganagar plant?
    Answer: Odisha.
85. What was the purpose of the Tata Motors Finance and Tata Capital merger?
    Answer: To consolidate Tata group financial services.
86. What significant event did Nirmala Sitharaman attend in Uzbekistan?
    Answer: The 9th AIIB Board of Governors meeting.
87. What role does Shankh Air play for Uttar Pradesh?
    Answer: It will be the state’s first scheduled airline.
88. What type of routes will Shankh Air operate?
    Answer: Inter- and intra-state routes.
89. Who announced Reliance Industries’ record turnover during the AGM?
    Answer: Mukesh Ambani.
90. What major step is Star Health taking for visually impaired customers?
    Answer: Offering insurance policies in Braille.
91. What is the significance of Zurich’s acquisition in Kotak General Insurance?
    Answer: It marks a significant foreign investment in India’s financial services sector.
92. What did Paysharp achieve with RBI authorization?
    Answer: A milestone in India’s payment ecosystem.
93. How does the Xtra Credit Card benefit customers?
    Answer: Enhances customer engagement and moderately grows the credit card portfolio.
94. What are the benefits of the Aviio application by Adani Airports?
    Answer: Enhanced airport operations and real-time updates.
95. What limit increase was made by NPCI for UPI transactions?
    Answer: ₹5 lakh for single transactions.
96. What is the purpose of the DIVE platform for LIC?
    Answer: To digitize and streamline insurance services.
97. How does VisioNxt support Indian design?
    Answer: By offering trend insights tailored to socio-economic diversity.
98. Which company’s merger was cleared by the Competition Commission of India?
    Answer: Tata Motors Finance Limited.
99. Which company exceeded a ₹10 lakh crore revenue milestone?
    Answer: Reliance Industries Limited (RIL).
100. What significant collaboration occurred for RBL Bank in the credit card space?
     Answer: Partnership with Indian Oil Corporation.

Key Takeaways

1. RIL’s milestone of exceeding ₹10 lakh crore in revenue showcases India’s business prowess.
2. Inclusivity in insurance, as seen with Braille policies, is a key step in customer service innovation.
3. Strategic mergers, like Tata Motors Finance’s, reflect ongoing industry consolidation trends.
4. Increased UPI limits by NPCI enhance convenience in digital payments for tax purposes.
5. New ventures like Shankh Air signify the growing accessibility of air travel in India.
6. The global investment in Kotak General Insurance reflects international interest in India’s financial sector.
7. Paysharp’s RBI authorization illustrates growing dynamism in the Indian payment ecosystem.
8. Tata Steel’s expansion strengthens India’s manufacturing infrastructure.
9. Collaboration between LIC and Infosys signals greater digitization in insurance services.
10. Adani’s Aviio platform promises smarter airport operations.

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