To reduce rupee volatility on account of higher inflows and increase forex reserves to cushion any external shock, the Reserve Bank (RBI) bought the highest amount of dollars, after a gap of how many years, at USD 49.2 billion in April-February of the past fiscal.?: 7 (seven) years
Explanation: The Reserve Bank had bought USD 115.9 billion from the market during the period while it sold USD 66.7 billion. However, when inflows are more the supply of dollar increases and it results in rupee appreciation, which is not good for exports. The RBI buys these excess dollar supply and add to their reserves. This is a way to maintain orderly movement of the rupee.
Mutual funds pumped in over Rs 40,000 crore in equity markets in 2014-15, making it their first net inflow in how many years for an entire fiscal.?: 6 (six) years
Explanation: The huge inflows also helped the MF industry reach around Rs 12 lakh crore mark in Assets under management (AUM) at the end of the financial year. Thus, Mutual fund managers invested a net sum of Rs 40,722 crore in 2014-15 while they pulled out over Rs 14,000 crore in the preceding financial year as per SEBI. However, industry body Association of Mutual Funds of India's (Amfi) decision to put one percent cap on upfront commission paid to distributors may impact the sector. In comparison, Foreign Portfolio Investors (FPIs) made a net investment of over Rs one lakh crore into equity markets during the fiscal ended last month. Mutual funds are investment vehicles that pool funds collected from investors to invest in securities such as stocks, bonds, money market instruments and other assets.
India's first International Financial Services Centre (IFSC) at which city became operational on 10 April 2015?: Gandhinagar
Explanation: India's first International Financial Services Centre (IFSC) at GIFT City. The IFSC regulatory regime allows Indian and foreign stock exchanges to set up separate bourses within IFSC as subsidiaries, while market entities from India and abroad would be allowed to operate there by providing issuance and trading in depository receipts and debt securities of domestic as well as overseas companies. IFSC rules allow companies incorporated outside India to raise money in foreign currencies by issuance and listing of their equity shares on stock exchanges within the IFSC, where individual and institutional investors from India and abroad, including NRIs, would be allowed to trade. The capital and other requirements have been relaxed for some time for exchanges, clearing corporations and depositories to set shop in the IFSC. Mutual funds and Alternative Investment Funds set up in the IFSC can also invest in the securities listed.
Capital markets regulator Sebi on 13 April 2015 unveiled a new mechanism for tendering and settlement of shares through stock exchanges that will make which process easy?: Delisting, buyback and takeover offers
Explanation: This circular would be applicable to all the offers for which public announcement is made on or after July 1, 2015. For all impending offers, acquirer/promoter/company would have the option to follow the existing mechanism:
-In case an acquirer or any person acting in concert with the acquirer who proposes to acquire shares under the offer is not eligible to acquire shares through stock exchange due to operation of any other law, such offers would follow the existing 'tender offer method'," Sebi said in a circular.
-In case of competing offers under Takeover Regulations, if one of the acquirers is ineligible to acquire shares through stock exchange mechanism, then all acquirers would follow the existing 'tender offer method'. he acquirer would have to appoint a stock broker registered with Sebi for the offer. Such broker may also undertake transactions on behalf of sellers. In case of offer under Takeover Regulations, the merchant banker would have to finalise the basis of acceptance of the shares depending upon the level of acceptances received in the offer.
Government on 13 April 2015 has selected about a dozen PSUs including IOC, National Fertilizers, MMTC, Hindustan Copper and ITDC for stake sale to achieve the current fiscal's disinvestment target of what amount?: Rs 41,000 crore
Explanation: The government has budgeted to raise Rs 41,000 crore through PSU stake sale in the current fiscal and another Rs 28,500 crore through strategic stake sales. Thus as per the roadmap, 10 per cent stake each would be diluted in Engineers India Ltd (EIL), NALCO, NMDC and Indian Oil Corporation (IOC). As much as 15 per cent stake would be up for sale in National Fertilizers Ltd (NFL), Hindustan Copper Ltd (HCL), India Tourism and Development Corp (ITDC), State Trading Corp (STC) and MMTC, sources added. Besides, the government plans to dilute 5 per cent stake each in BHEL, NTPC, Rashtriya Chemicals and Fertilizers (RCF) and Dredging Corporation (DCIL).
The Department of Posts (DoP) notified on 13 April 2015 that it will soon seek Cabinet approval for Rs 240 crore for setting up which bank?: Post Bank of India
Explanation: The DoP, which has applied for a payment bank licence, has a hybrid model in mind to operate Post Bank of India thus DoP has plans to set up Post Bank of India under payment bank licence. As per RBI guidelines, payment banks would offer a limited range of products such as demand deposits and remittances. They will not be allowed to undertake lending activities and will be initially be restricted to holding a maximum balance of Rs 1 lakh per individual customer. They will be allowed to issue ATM or debit cards as also other prepaid payment instruments, but not credit cards. The Department expects revenue of over Rs 550 crore from PBI in first 5 years.
In January 2015 as per the data released by RBI on 14 April 2015, which bank was placed at the top spot among all banking entities in mobile banking transactions?: HDFC Bank
Explanation: Rs 4,906.86 crore transaction through mobile (huge nine-fold growth) recorded in January 2015 by the private sector-based HDFC Bank and thus maintained the lead in mobile transactions. ICICI Bank placed second in the list with mobile banking transactions worth Rs 2,224.97 crore while SBI was third in the list with Rs.1,586.40 crore.
The Reserve Bank of India (RBI) on 15 April 2015 told to Delhi High Court that putting a cap on the number of withdrawals by banking customers using their which instrument without being charged, is a policy decision taken in public interest.?: ATM cards
Explanation: The court was hearing a public interest litigation (PIL) filed by advocate Swati Aggarwal, seeking directions to allow banking customers to make an unlimited number of transactions free of any charge on their own bank ATMs. The petition was files against the RBI's new guidelines, where bank customers in six metros -- Delhi, Mumbai, Chennai, Kolkata, Hyderabad and Bangalore - are allowed to withdraw money free of charge only five times a month and every transaction beyond this limit will be charged Rs 20 per use.
Which private sector bank would become the first bank from India to have its mobile banking application (app) made available on the Apple Watch a latest product from Apple Inc. and will be officially released during April 2015?: HDFC Bank
Explanation: “WatchBanking” is the name given to new Mobile application which makes HDFC the first bank and Indian company to launch an app for the Apple Watch. The App is due to launch in India on 24 April 2015. According to the information released by HDFC Bank, the bank is probably the fourth banking entity in the world to have such an app and the first Indian bank to have its app on the Apple Watch.
Leading stock exchanges NSE and BSE on 16 April 2015 announced the extended trading hours for Gold Exchange Traded Funds (ETFs) till 7 PM on April 21, on account of which occasion?: Akshaya Tritiya
Explanation: BSE has also decided to waive off transactions charges for all trades in gold ETFs on the eve of Akshaya Tritiya. After the regular market hours from 9:15 AM to 3:30 PM across all segments, trading in gold ETFs will resume at 4:30 PM and continue till 7 PM that day. The extended trading would be allowed in gold ETFs of Axis, Goldman Sachs, HDFC, ICICI Pru, Kotak, Quantum, Reliance, Religare, SBI, UTI and Birla Sun Life mutual funds. - See more at: http://www.time2study.in/current-affairs/current-affairs-17-april-2015-128.html#sthash.xgm1yWS5.dpuf
