General Knowledge Questions

The Phoenix Settlement, established by Gandhiji near Durban in 1904, was formally reopened on February 27, 2000, at a ceremony attended by the President of South Africa, the Zulu King Goodwill Zwelithini and many other leaders.The settlement -the first Ashram of Gandhiji -had been damaged in 1985 riots when some African squatters occupied much of the settlement and named it Bambayi. Though the Indian community was deeply distressed, it refrained from seeking the forcible eviction of the squatters. The Phoenix Settlement Trust, with financial assistance from the Government of India, recently restored Gandhiji's house and established aclinic, an HIV/Aids Centre and other facilities to serve all the people in the area, African and Indian

The life-cycle theory of consumption, popularly known as life-cycle hypothesis,' was developed by Ando and Modigliani" in the early 1960s.

The life-cycle hypothesis postulates that individual consumption in any time period depends on

(i) resources available to the individual,

(ii) the rate of return on his capital, and

(iii) the age of the individual.

The resources available to an individual consist of his existing net wealth and the present value of all his current and future labour incomes. According to the life-cycle hypothesis, a rational consumer plans consumption on the basis of all his resources and allocates his income to consumption over time so that he maximizes his total utility over his life time.

Digital wallet company Paytm on Tuesday launched 'Paytm Money' app for mutual fund investments. The Paytm Money platform will be offering systematic investment plans (SIPs), starting at Rs 100 per month.