Weekly Business Quiz # 419

India

Q 1. Which was the immediate previous assignment of M K Jain the newly appointed Dy Governor of RBI ?

Ans.  MD and CEO of IDBI Bank

Q 2. Which Indian company recently listed a gaming company called Codemaster in the UK’s AIM ?

Ans. Reliance Entertainment of Reliance ADAG Group

Q3. Which business leader’s children are making marks in fields totally away from business..daughter is a pop singer and son is a first-class cricketer ?

Ans. Kumar Mangalam Birla

Q4. Why is IIT Delhi opposed to the naming of the Delhi Metro station after its sponsor ?

Ans. FIITJEE is the sponsor of IIT Delhi Metro station… The IIT authorities are afraid this will give a wrong msg to the public

Q5. When Tata Steel acquired Bhushan Steel via NCLT they signed a “Novation” agreement . What is Novation ?

Ans.The  substitution of a new contract for an old one. The new agreement extinguishes the  rights and obligations that were in effect under the old agreement. 

In the context of Tata -Bhushan deal, as per MD Tata Steel in Business Standard ”

“Bhushan had a debt of around Rs 55,000 crore. We paid Rs 35,200 crore to bankers. All the pledged shares were cancelled and we bought equity in Bhushan.

The balance, which Bhushan owed the banks, has been novated to us for Rs 100 crore, which means we own that debt and had to pay the banks Rs 100 crore.

The banks took a haircut and transferred the shares to us. In addition, we own Rs 20,000 crore of debt, on which we have a call, for which we have paid Rs 100 crore.” 

Global

Q6. Which software development hub recently acquired by Microsoft started life as Logical Awesome LLC ?

Ans. Github

Q7. Where has Coca Cola launched its first alcohol based drink ?

Ans. In Japan

Q8. What kind of a leave is “Garden leave” ?

Ans. Garden leave describes the practice whereby an employee leaving a job – having resigned or otherwise had their employment terminated – is instructed to stay away from work during the notice period, while still remaining on the payroll.

  • Compiled by G.Mohan Twitter @go_mohan
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