Economy & Business -Quick Facts
1. Debt Recovery Tribunal is headed by a presiding officer to handle cases of Rs. 10 lacs and above
2. Debt Recovery Tribunal deals with – Bank loan recovery cases
3. The Banking Ombudsman is appointed by – Reserve Bank of India
4. The commission which decides the distribution of taxes between the central and state governments – Finance Commission
5. Share issuing companies, issue managers, underwriters and share applicants are part of – Primary Market
6. The decision of the Debt Recovery Tribunal can be challenged only in – Debt Recovery Appellate Tribunal
7. The difference between the revenue receipts plus certain no-debt capital receipts and the total expenditure including loans is termed – Fiscal Deficit
8. Fiscal Consolidation means – To reduce government deficit and debt accumulation
9. SWIFT is a Belgium-based body, through which the financial world conducts its operations with speed and confidence. It stands for- Society for Worldwide Interbank Financial Telecommunication
10. Excess of revenue expenditure over revenue receipts – Revenue Deficit
11.Buying/ selling stock, commodities, or foreign exchange for delivery at a later date is termed as – Forward Trading
12. If we subtract the interest paid on borrowings by the government from the fiscal deficit, we get – Primary Deficit
13. Dividend is – Share of a company’s profits divided among shareholders in proportion to their shareholding
14. The transfer of the amount on the cheque to another party by writing the instructions overleaf the cheque, mentioning the beneficiary, duly signed by the payee or drawer of the cheque is – Endorsement
15.The issue of shares by a Public Ltd. Company for the first time is called – Initial Public Offering (IPO)
16. The entity that collects money from many people and invests it in stocks, bonds or other assets is – Mutual Fund
17. LIBOR stands for – London Inter-Bank Offered rate
18. As per the Companies Act, for a Public Ltd. Company, there is no maximum limit on the number of shareholders but the minimum shareholders required are – 7
19. MIDCAPS are – Companies with middle sized capital. Usually young, fast-growing companies
20. Listing of a share implies – the shares have been listed on the stock exchange and can be traded in the secondary market. The listing has to be done within 7 days of finalization of issue.
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