Call Support +91-85588-96644

Exam Categories

International Tests

View More

Defence & Para Military

Assessment-I

View More

Assessment-II

View More

Placement & IT Sector

Assessment-III

View More

Aptitude/GK/Vocational Skill Tests

View More
TCYonline

Login

Sign Up

Please enter a Username or Email ID
Please enter a password
Keep me logged in
Forgot Password?
Please enter your name
Please enter your mobile number
You can't leave Captcha Code empty
By submitting this form, you agree to the Terms & Privacy Policy.
Already Registered? Login Here
OR

Sign Up via Facebook

Sign Up via Google

Sign Up via Twitter

Download Software
Tests given

Download TCY App

App Image
Subscribe to Unlock Test Prep Material close
Choose Exam Category

Unlock All Services and Enjoy The Premium Benefits

1 Month Plan

US$ 10

Subscribe Now

Valid For 1 Month

2 Month Plan

US$ 13

Subscribe Now

Valid For 2 Months

3 Month Plan

US$ 15

Subscribe Now

Valid For 3 Months

4 Month Plan

US$ 17

Subscribe Now

Valid For 4 Months

5 Month Plan

US$ 19

Subscribe Now

Valid For 5 Months

6 Month Plan

US$ 20

Subscribe Now

Valid For 6 Months

7 Month Plan

US$ 21

Subscribe Now

Valid For 7 Months

8 Month Plan

US$ 22

Subscribe Now

Valid For 8 Months

9 Month Plan

US$ 23

Subscribe Now

Valid For 9 Months

10 Month Plan

US$ 24

Subscribe Now

Valid For 10 Months

11 Month Plan

US$ 25

Subscribe Now

Valid For 11 Months

12 Month Plan

US$ 26

Subscribe Now

Valid For 12 Months

  • Payment made in INR entitles you to use Test in INDIA only
  • Each test can be attempted only once
 
loading

General Awareness

googleplus facebook

BUSINESS AND ECONOMY - October 2018

Oct 2018

Dec 28, 2019

Vistara Partners with Nelco

  • Vistara partnered with Tata Group firm Nelco for in-flight data services, which are expected to be rolled by the full service carrier shortly. Nearly five years after starting operations, Vistara — a joint venture between Tatas and Singapore Airlines — is also likely to be the first domestic carrier to provide in-flight connectivity within India. Telecom Secretary Anshu Prakash said that the required spectrum was allocated for the purpose.

Nalco to Revisit Expansion Plans

  • As per Chairman and Managing Director Sridhar Patra, state-owned aluminium company Nalco is looking to revisit its expansion plans.
  • Last year, the company had said that it was all set to invest over Rs. 30,000 crore over the next four years to launch a number of new projects and undertake major expansion programmes.
  • The projects under execution include 1 MTPA capacity 5th stream alumina refinery in the existing complex at Damanjodi at an estimated cost of Rs. 5,540 crore which is expected to be completed by April 2021.
  • Around Rs. 9,000 crore was being spent for establishment of 6 lakh TPA smelter at the existing complex at Angul in Odisha.
  • National Aluminium Company Ltd (Nalco) is a navratna CPSE under the Ministry of Mines. The company has diversified operations in mining, metal and power.

Sharply Falling Revenue Risks Fiscal Parameters Warns RBI

  • The Reserve Bank has flagged falling government revenue as a threat to the overall fiscal numbers -- with tax and non-tax revenues lagging way behind targets -- saying this along with weaker private consumption and investment could prove to be a challenge.
  • The central bank, however, said that amidst all these negatives the nation's financial system remains resilient with the asset quality of banks improving (NPAs remaining stable at 9.3 per cent as of September as same as March 2019) thanks to the efforts of both banks and companies to clean up their balance sheets.
  • The warning assumes importance from many angels as revenue mop-up has been falling and budgeted expenditure (fiscal deficit) has crossed 107 per cent as of November, putting a big question mark on the government ability to meet the 3.3 per cent fiscal targets.

Adani Enters Cold Chain Business

  • Adani Logistics, a subsidiary of Adani Ports and SEZ, signed an agreement to acquire a 40.25 per cent stake in Snowman Logistics from Gateway Distriparks for Rs. 296 crore.
  • The acquisition is in line with the strategy and vision to be a leader in providing integrated logistics services in India and moving from port gate to customer gate. Cold chain is key product in customer gate strategy given India's consumer driven demand.
  • The announcement of this acquisition by Adani has come at the time when India is grappling with economic slowdown where domestic companies of several sectors are cutting capex amid not-so-strong revenue visibility.
  • As part of the transaction, Adani Logistics will make a mandatory open offer as per the Substantial Acquisition of Shares and Takeover Guidelines, 2011 for a maximum 26 percent of the public shareholding in the company.
  • The acquisition is subject to customary condition precedents and is expected to close by March 31, 2020.

Allahabad Bank Raises Rs. 1,500 crore

  • Public sector lender Allahabad Bank raised Rs. 1,500 crore through private placement of Basel III-compliant tier-2 bonds.
  • These bonds have a tenor of 10 years with a call option after five years. The issuance/placement of the bonds has been completed by the bank through NSE's Electronic Debt Bidding Platform.
  • In an earlier statement, Allahabad Bank had said the Centre had agreed to make a capital infusion of Rs. 2,153 crore. The contribution will be made via preferential allotment of equity shares (special securities or bonds) of the bank during financial year 2019-20.
  • The capital infusion comes just months before its amalgamation with the Chennai-based Indian Bank. The fresh capital would help the bank meet the regulatory requirements. Shares of the bank rose 8.17% to close to Rs. 19.20 on the BSE.

Govt. to Infuse Rs. 4,360 crore in Indian Overseas Bank

  • State-owned Indian Overseas Bank (IOB) said that the government would infuse Rs. 4,360 crore into the lender. In an exchange filing, the bank will get a fresh capital infusion from the government in the current financial year to meet regulatory requirements.
  • IOB Managing Director and Chief Executive Officer Karnam Sekar had said that capital infusion from the government would help the public sector bank get out of RBI's prompt corrective action (PCA) framework. He was also hopeful the bank would report net profit in March 2020.

Dec 27, 2019

FM Sitharaman May Announce 100% Aviation Fdi In Budget Speech

  • The government is contemplating a budget announcement to hike the foreign direct investment (FDI) limit in the aviation sector from 49% to 100% to attract international bids for Air India, slated for sale this financial year.
  • The current aviation FDI cap was not attractive enough and an increase would help troubled airlines, like Air India and Jet Airways, find buyers.
  • The Substantial Ownership and Effective Control (SOEC) clause bars any foreign investor from taking complete control of an airline, run by a board that has two-third members as Indians.

Renowned Hindi Author Ganga Prasad Vimal Killed In Road Accident

  • Renowned Hindi author Ganga Prasad Vimal was killed in a road accident in Sri Lanka.
  • His daughter, granddaughter and a local driver were also killed in the accident.
  • HRD Minister Ramesh Pokhriyal 'Nishank' condoled his demise. Vimal's death is an irreparable loss to the world of literature and a personal loss for him.  
  • Born in 1939 in Uttarkashi, Vimal wrote more than a dozen poetry collections, short story collections and novels. 

   RBI Tells Banks To Cap Stake In Insurance Companies At 30%

  • The Reserve Bank of India has asked lenders to cut their stakes in insurers to 30%, as the banking regulator attempts to shield banks from risks arising out of their non-banking businesses and steer focus to boosting credit growth in a slowing economy, four people with direct knowledge of the matter. 
  • RBI informed the bankers in a meeting last week that it will soon introduce rules to cap their holdings in an insurance company to 30%, requesting anonymity as the matter is confidential. The holding limit will be 50% for non-banking financial companies such as Housing Development Finance Corp. that have insurance units. Banks have been told to await RBI's official communication on the new rules.

IL&FS: SEBI Fines 3 Rating Agencies ₹25 Lakh Each

The Securities and Exchange Board of India (SEBI) has penalised rating agencies India Ratings & Research, CARE and ICRA for alleged lack of proper due diligence while rating non-convertible debentures of crisis-hit IL&FS.
In three separate orders, the SEBI imposed a penalty of ₹25 lakh each on them. "Though there is no allegation of any mala fide on the part of the Noticee, the failure by the Noticee is blameworthy and serious considering the degree of responsibility bestowed upon it by the statute. "Further, in the peculiar facts and circumstances of this case, the default has occurred due to lethargic indifference and needless procrastination and laxity of the Noticee.

   RBI Tells Banks To Cap Stake In Insurance Companies At 30%

  • The Reserve Bank of India has asked lenders to cut their stakes in insurers to 30%, as the banking regulator attempts to shield banks from risks arising out of their non-banking businesses and steer focus to boosting credit growth in a slowing economy, four people with direct knowledge of the matter. 
  • RBI informed the bankers in a meeting last week that it will soon introduce rules to cap their holdings in an insurance company to 30%, requesting anonymity as the matter is confidential. The holding limit will be 50% for non-banking financial companies such as Housing Development Finance Corp. that have insurance units. Banks have been told to await RBI's official communication on the new rules.

Allahabad Bank To Get ₹2,153 Crore

State-owned Allahabad Bank would get a fresh capital infusion of ₹2,153 crore from the government in the current financial year.
The Department of Financial Services conveyed the sanction for release of the fresh capital.
The infusion is towards contribution of the central government in the preferential allotment of equity shares of the bank during the financial year 2019-20 as the government's investment.
Infusion of the capital into the bank comes ahead of the merger with Indian Bank and would help the bank meet the regulatory requirement to get amalgamated with a bigger peer.

Dec 26, 2019

India Eyes 60% Share in Global Ship Recycling Business

  • According to Union Minister Mansukh Lal Mandaviya, with a new legislation in place, India eyes to garner at least 60 per cent of the global ship recycling business and emerge as a key destination for recycling warships and other ships.
  • As per Mandaviya, contribution from ship recycling activities to the country's GDP would reach $2.2 billion, almost double compared to the current level.
  • According to Mandaviya, Gujarat's Alang, the world's biggest shipyard, is ready to cater to projected increase in the number of ships for recycling. Currently, India recycles around 300 of the 1,000 ships which are demolished per annum globally. However, countries like Japan, Europe and the US were not sending their ships for recycling to India in the absence of ratification of a global convention. That scenario is set to change with the Recycling of Ships Act, 2019.

NTPC to Invest Rs. 50,000 cr. for 10 GW Solar Capacity

  • State-owned power giant NTPC is planning to add 10 GW of solar energy generation capacity by 2022, which entails an investment of around Rs. 50,000 crore, to be funded mainly by green bonds.
  • At present, the Navratna Company has installed renewable energy capacity of 920 MW, which includes mainly solar energy. It has formulated a long term plan to become a 130 GW company by 2032 with 30 percent non-fossil fuel or renewable energy capacity.
  • The plans to add 10 GW solar energy capacity assumes significance in view of India's ambitious target of having 175 GW of clean energy by 2022.

Blackstone Enters Warehousing Business in India

  • Global private equity firm Blackstone Group Inc formed a joint venture with Greenbase, a Hiranandani group firm, to develop warehousing and logistics parks across the country. This marks the entry of Blackstone, a US-based company, into the Indian warehousing and logistics sector.
  • The equal joint venture plans to invest Rs. 2500 crore to develop around 12 million sq ft of industrial and warehousing assets across the country in three to four years.
  • The Blackstone-Hiranandani platform will initially build industrial parks at Greenbase's 267 acres land in Pune, 115 acres in Chennai's industrial suburb Oragadam, 73 acres in Nashik, and 25 acres in Durgapur.

JSW may Go Slow on Bhushan Power Buy

  • India's second-largest private steelmaker, JSW Steel Ltd, may go slow on buying bankrupt Bhushan Power and Steel Ltd, despite the cabinet approving an ordinance to ring fence successful bidders from criminal proceedings for offences committed by previous promoters.
  • The cabinet's approval did not give too many details and, as such, JSW Steel will wait for further clarifications from the National Company Law Appellate Tribunal (NCLAT) when the matter comes up for hearing in January 2020. The ordinance says that ongoing investigations against original promoters will continue and the new owner must attend all proceedings.
  • As per reports, the fine print is not clear on this ordinance yet. JSW will move ahead only when everything is crystal clear because the stakes involved are too high.

Dec 25, 2019

IFCI Sells NSE Stake worth Rs. 805 crore

  • State-owned development finance institution IFCI Ltd has raised Rs. 805.6 crore by selling its stake in the National Stock Exchange Ltd (NSE). Earlier this month, IFCI informed the stock exchanges that it received bids for its entire 2.44% stake in the NSE. IFCI did not disclose the name of the buyers.

Honda Sells over 60,000 Units of BS-VI Activa, New Bike

  • The country's second largest two-wheeler maker Honda Motorcycle said that its BS-VI versions of Activa scooter and a brand new bike SP 125 have cumulatively sold over 60,000 units.
  • While the BS-VI model of Activa was launched in September and is available widely across the country, the brand new bike SP 125 was launched in November.
  • Crossing 60,000 units' landmark a quarter before the deadline is a testimony of the confidence of customers on the new models.

Bharti Infratel Delays Deal

  • Bharti Infratel Ltd's board approved a second extension to allow the tower company additional time to secure government approval for its merger with Indus Towers that was announced in April last year.
  • The board has further extended the long stop date till February 24, 2020, with each party retaining the right to terminate and withdraw the scheme. Bharti Infratel had first extended the long stop date to 24 December in October.
  • The proposed merger of Bharti Infratel with Indus Towers, a joint venture between Bharti Infratel, Vodafone Idea Ltd and Vodafone Group Plc, will create the world's second-largest telecom tower company with more than 163,000 towers. It will allow Bharti Airtel Ltd, the parent of Bharti Infratel, and Vodafone Idea to sell their stake in the combined entity and use the proceeds to pare debt and invest in their flagging telecom operations.

Dec 24, 2019

Reliance Infrastructure Wins Arbitration Award against DVC

  • Reliance Infrastructure won an arbitration award of Rs. 1,250 crore against Damodar Valley Corporation (DVC).
  • The proceeds will be used to pay lenders and reduce the debt of the company.
  • A three-member arbitration tribunal unanimously gave the award in favour of Reliance Infrastructure.
  • Reliance Infrastructure was the engineering and construction contractor for DVC's 1200 mw Raghunathpur thermal power project in West Bengal commissioned in 2012.

Merger of Bharti Infratel and Indus Hangs in Balance

  • The merger of Bharti Infratel and Indus Towers, pegged to create the world's second-largest tower company, hangs in the balance with the companies awaiting a key government approval on foreign direct investment.
  • The board of Bharti Infratel, a unit of Bharti Airtel Ltd, will meet and is likely to decide on a second extension for the current long stop date so that the companies can secure the approval and complete their merger announced in April 2018.
  • The merger is crucial as it will help loss-making Bharti Airtel and Vodafone Idea, the promoters of Indus Towers, sell stake to raise funds in the competitive telecom sector, especially at a time when they have to pay huge dues to the Department of Telecommunications (DoT) after an unfavourable court verdict in October. Bharti Airtel has set aside Rs. 34,260 crore and Vodafone Idea has made provisions for Rs. 25,677.9 crore in the September quarter after the Supreme Court upheld the government's definition of revenue based on which telecom firms pay levies.

Mumbai Tops the List of Severely Stressed Realty Loans

  • The Mumbai region has topped the list of Indian cities with the highest level of stressed assets in the real estate sector.
  • Of a total of $35 billion loans advanced to developers in the Mumbai Metropolitan Region (MMR), almost $8.7 billion (or 25%) is currently under severe stress.
  • This is about double the total stressed loan amount in the National Capital Region (NCR) estimated at $4.3 billion, a research report by Anarock has showed. The NCR real estate market has so far received total loans worth $23 billion from banks and NBFCs/HFCs.

Aadhaar to be Made Mandatory for GST

  • With 66.79 lakh new dealers registered under the Goods and Service Tax contributing just 15% of the total revenue under the tax regime, the GST Network has decided to make Aadhaar authentication or physical verification mandatory for new dealers from January 1, 2020, to check malpractices.

Govt. Refuses to Share Details of Swiss Bank Accounts

  • The Finance Ministry declined to share Swiss Bank accounts details of Indians saying it is covered under confidentiality provisions of a tax treaty signed between India and Switzerland.
  • In reply to a Right to Information (RTI) query, the ministry also refused to disclose the details of black money received from other foreign countries.
  • Information exchanged under such tax agreements is covered under confidentiality provisions of respective agreements. Thus, disclosure of tax related information and information sought/obtained from foreign governments is exempted under section 8 (1) (a) and 8 (1) (f) of the Right to Information (RTI) Act.
Share on
Keep Yourself updated on Latest PTE Exam Pattern

Avail Free Topic-wise Tests and various other offers.

Later Allow