Banking related general awareness --11 2012 1
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BSC November 2012 General Awareness Set-1
(With special reference to banking industry)
1. As reported in various newspapers, the Reserve Bank of India is planning to allow more and more banks to function as “Local Area Banks”. This will help RBI in the implementation of which of the following of its plans drives?
(i) Financial Inclusion (ii) Rural Banking (iii) Mobile and e-Banking
A) Only (i) B) Only (ii) C) Only (iii) D) Only (i) and (ii) E) None of these
2. What is the full form of the term ‘NPA’ as used in banking environment?
A) Not Profitable Assets B) New Potential Accounts C) Non Performing Assets
D) Net Performing Assets E) None of these
3. As per recent reports, many countries are planning introduce “Tobin Tax”, the idea of which was given by Nobel Prize winner economist James Tobin in 1978. Tab Tax, if implemented, will be levied on which of the following?
A) On the interest income of corporate earned through major investments
B) All cash transactions
C) Services availed specifically by an elite group of people
D) Foreign exchange transactions
E) None of these
4. Some banks which were not able to meet their priority sector lending targets are now allowed to do so by purchasing Priority Sector Lending Certificates (PSLC). Which of the following agencies/organizations is /are authorized to issue these certificates?
(i) Micro Finance Institutions (ii) Non Banking Finance Companies (iii) NABARD
A) Only (i) B) Only (ii) C) Only (i) and (ii) D) All (i),(ii) and (iii)
E) None of these
5. Which of the following countries has decided that from October 2018 no cheques should be issued or honoured these there, and all the payments should be made and accepted in electronic form only?
A) USA B) Russia C) United Kingdom
D) Australia E) None of these
6. In commodity exchanges in India, Index Futures are not permitted, as some of the provisions of the FCRA do not allow the same. What is the full form of FCRA?
A) Foreign Commodities Regulation Act B) Forward Commodities Repurchasing Act
C) Forward Contracts Regulation Act D) Financial Contracts Reformation Act
E) None of these
7. As per the findings of the World Bank, which of the following recent developments in rural areas has double the income of rural households, raised literacy rate by 10% and appreciated land prices by up to 80%?
A) Relief packages to the farmers B) Construction of all-weather roads
C) Recharging of water bodies D) Rainwater harvesting
E) None of these
8. Cryogenic Engines are used in which of the following areas of technology?
A) Atomic Energy B) Food Technology C) Oceanography
D) Space Research E) None of these
9. Which of the following initiatives has/have been taken by the Govt. of India to boost the development of agriculture?
(i) Accelerated Irrigation Benefit Programme (ii) Fertilizer Subsidy Scheme
(iii) Public Distribution System (PDS)
A) Only (i) B) Only (ii) C) Only (iii)
D) Only (i) and (ii) E) All (i),(ii) and (iii)
10. As per the news published in various financial newspapers, the RBI is reworking the road map on Capital Account Convertibility. If this is done, who amongst the following would be able to invest in foreign projects or acquire assets outside India without any restrictions?
(i) Public Sector Banks (ii) Companies which are registered in India
(iii) Govt of India (iv) Any individual
A) Only (i) B) Only (ii) C) Only (iii)
D) All (i),(ii),(iii) and (iv) E) None of these
11. Many a time we read in the newspapers about Special Drawing Right (SDR). As per its definition, SDR is a monetary unit of the reserve assets of which of the following organizations/agencies?
A) World Bank B) International Monetary Fund (IMF) C) Asian Development Bank
D) Reserve Bank of India E) None of these
12. As per the current practice, the maximum part of the Global Foreign Exchange Reserves (more than 60%) and Foreign Exchange Transactions (more than 90%) Take place in only one currency all over the world. Which is that currency?
A) Euro B) Pound Sterling C) US Dollar
D) Yen E) None of these
13. Many economists and financial analysts are of the opinion that India could withstand the recent global economic crisis comfortably because of a good fiscal consolidation and Govt’s adherence to the targets fixed by the
A) Fiscal Responsibility and Budget Management Act
B) Banking Regulation Act
C) Finance Bill Act
D) Foreign Exchange Management Act
E) All the above
14. Consider the following statements:
(i) In call money market, funds are borrowed and lent for one day and for a period of up to 14 days without any collateral security.
(ii) Ways and Means Advances are made the commercial banks to maintain mandatory reserves.
(iii) Treasury Bills are promissory notes issued by State Governments for fixed period extending up to one year.
Which of the above statement/s is/are correct?
A) Only (i) B) Only (i) and (ii) C) Only (iii)
D) Only (i) and (iii) E) All the above
15. As per the news published in various newspapers, the RBI is considering the grant of licence to some new companies, particularly NBFCs, to act as full-fledged banks. Which of the following will be considered as an NBFC?
A) NABARD B) Life Insurance Corporation of India C) Reliance Capital
D) SEBI E) None of these
16. As per the newspaper reports, China is likely to drop its special “Yuan’ policy soon. What is this special Yuan policy being followed by China at present?
(i) China had initiated the policy of Yuan’s exchange rate with Dollar to Yuan since 2008 at a specified rate decided by it and not by the market forces.
(ii) China has initiated a policy which says that all payments in China should be done in Yuan only. No other currency is acceptable.
(iii) China has a policy of accepting all payments for its exports in Dollar while all imports are paid in Yuan only. The US and some other nations do not agree with this.
A) Only (i) B) Only (ii) C) Only (iii)
D) Only (i) and (ii) E) None of these
17. Bancassurance can be sold to
A) All banks B) Al insurance companies C) Insurance Agents
D) All existing and prospective bank customers E) All the above
18. Cross-selling is not effective for which of the following products?
A) Debit cards B) Savings accounts C) Internet banking
D) Pension loans E) Personal loans
19. Home Loans can be best canvassed among
A) Builders B) Flat owners C) Land developers
D) Agriculturists E) Individuals wishing to buy a flat or house
20. Consider the following statements about the Regional Rural Banks (RRBs):
(i) Regional Rural Banks (RRBs) have been consolidated into 83 different banks.
(ii) RRBs were established in 1972.
(iii) RRBs are working in all states of the country except Sikkim and Goa.
A) Only (ii) B) Only (i) and (iii) C) Only (ii) and (iii)
D) Only (iii) E) None of the above
21. Many a time we read in the newspapers that RBI has changed or revised a particular ratio/rate by a few basis points. What is basis point?
A) Ten per cent of one hundredth point B) One hundredth of 1%
C) One hundredth of 10% D) Ten per cent of 1000
E) None of these
22. Many a time we read in the newspapers about the benefits of National Electronic Fund Transfer (NEFT), a delivery service launched by a bank. Why do banks advocate for such delivery channels?
(i) It is a system in which no physical transfer takes place, hence risk is very low.
(ii) In this system banks are not required to transfer any money actually to the account of the customer. Only book adjustment is done. Hence actual fund is not needed.
iii) This facility is available to anybody at any place. Even having a bank account is not at all necessary.
A) Only (i) is correct B) Only (ii) is correct C) Only (iii) is correct
D) Both (i) and (ii) are correct E) All the above are correct
23. Which of the following issues cannot come under the purview of the functioning of the Human Rights Commission of a country?
A) Racial Discrimination B) Treatment to Prisoners of War C) Human Trafficking
D) Child Abuse E) Climate Migration
24. Consider the following statement/s about ‘Open Market Operations’ is/are true:
(i) ‘Open Market Operation’ stands for the purchase and sale of government securities by the RBI from/to the public and banks.
(ii) The RBI buys all the unsold stock new government loans at the end of the subscription period.
(iii) Such purchases of the government securities by the RBI constitute only an internal arrangement and are not genuine market purchases.
A) Only (i) B) Only (i) and (ii) C) Only (ii) and (iii)
D) Only (iii) E) All the above are true
25. The market in which long-term securities such as stocks and bonds are bought and sold is commonly known as
A) Commodities Exchange B) Capital Market C) Bull Market
D) Bullion Market E) None of these
26. With which of the following countries has India signed an agreement on customs cooperation to resolve matters related to delays in clearance of trade goods?
A) Singapore B) Sri Lanka C) Mauritius
D) South Africa E) China
27. In which city of India is the world’s tallest statue of Mahatma Gandhi, a 40-foot-high bronze statue, to be installed shortly?
A) Pune B) Rajkot C) Gandhinagar
D) Patna E) Chennai
28. Which Indian cricketer has achieved the career-based second position in the latest ICC one-day rankings, after his Player of the3 Series performance against Sri Lanka
A) MS Dhoni B) Virender Sehwag C) Virat Kohli
D) Gautam Gambhir E) Sachin Tendulkar
29. In which country has the Power Ministry of India fast tracked clearance for 2,690-MW hydro power project to be set up in joint venture with Indian companies?
A) Nepal B) Bhutan C) Bangaladesh
D) Myanmar E) Sri Lanka
30. Which of the following financial institutions has fund Rs, 650 crore for upgrading transmission lines in several towns of Bihar, a project to be completed by 2016?
A) World Bank B) International Monetary Fund C) Asian Development Bank
D) European Central Bank E) None of these
31. Which country was recently accused by Human Right Watch, an international organization, of killing and persecuting Muslims from the Rohingya ethnic group?
A) Kenya B) Myanmar C) Egypt
D) China E) Nepal
32. Which country has officially been accepted recently in Mercosur, the South American trade block?
A) Venezuela B) Brazil C) Argentina
D) Uruguay E) Paraguay
33. In which city was an extraordinary summit of Muslim leaders held in August, in which Saudi King Abdullah had invited Iranian President Mahmud Ahmadinejac
A) Riyadh B) Medina C) Mecca
D) Aqaba E) Domat- al-Jandal
34. To whom among the following Indian leaders was ‘stat guest’ status accorded by Nepal President Ram Baran Yadav in July, which triggered controversy, with Prime Minister Baburam Bhattarai raising the protocol issued by
A) Kapil Sibal B) Yashwant Sinha C) LK Advani
D) Jaswant Singh E) Ram Vilas Paswan
35. In which of the following states has the Minority Commission revived its proposal to regulate and managing properties and institutions run by Christians through Wakf-like board?
A) Odisha B) Uttar Pradesh C) Madhya Pradesh
D) West Bengal E) Bihar
36. Which stock exchange has emerged as the world’s largest bourse I terms of the number of trades in equivalent segments for the first six months of 2012?
A) Dow Jones, New York B) Nikkei, Tokyo C) Benchmark, Paris
D) National Stock Exchange, Mumbai E) Hang Sang, Hong Kong
37. Which international bank has been accused by New York state in the United States of hiding about 60,000 secret transactions with the Iranian government, involving a whopping $250 billion?
A) ABN Amro B) HSBC C) Barclays
D) Standard Chartered E) HDFC
38. Name the space rover of the United States which has recently landed on the Red Planet, Mars, to probe its surface.
A) Cassini B) Atlantis C) Discovery
D) Curiosity E) Endeavour
39. Which of the following IT companies of India has for the first time overtaken Infosys in quarterly revenues and emerged as the second largest software company of India after Tata Consultancy Services (TCS)?
A) HCL Technologies B) Wipro C) Mahindra Satyam
D) Patni Computer System E) Cognizant Technology
40. Who among the following is the chairman of the Pension Fund Regulatory Development Authority (PFRDA) of India?
A) UK Sinha B) J Harinarayan C) Yogesh Agarwal
C) D Subbarao E) C Rangarajan
41. In which country have authorities announced a reward of Rs.57 lakh recently for information about an Indian who fled the country after being accused of negligent driving that led to the death of a pedestrian?
A) The Philippines B) Britain C) Australia
D) Germany E) Italy
42. In which country have equities attracted more foreign institutional flows than any other Asian market so far in 2012?
A) China B) Malaysia C) India
D) The Philippines E) Japan
43. About which airport of India has civil aviation minister Ajit Singh warned of shutting down for big aircraft unless the concerned state government steps in to help improve safety by providing land to extend the runway?
A) Lucknow airport B) Chandigarh airport C) Patna airport
D) Bhopal airport E) Imphal airport
44. Ehich Bollywood actress has signed as the brand ambassador for women grooming range of the Dutch electronics firm Philips, for which John Abraham had signed for male grooming products?
A) Priyanka Chopra B) Neha Dhupia C) Katrina kaif
D) Kareena Kapoor E) Aushka Sharma
45. Who is heading the 15-member committee named by the Speaker Meira Kumar on violation of protocol norms and contemptuous behavior of government officers with members of the Lok Sabha?
A) Jayanti Natarajan B) Girija Vyas C) Mani Shankar Aiyar
D) Ananth Kumar E) Sharad Yadav
46. In an unprecedented move, which state assembly of the United States has passed a resolution recognizing August 15 as India’s Independence Day and urged all the people of the state to celebrate on that day?
A) California B) Texas C) Massachusetts
D) Minnesota E) Illinois
47. In which city of India is the Global Investors’ Summit scheduled to be held from October 28-30?
A) Ahmadabad B) Indore C) Jaipur
D) New Delhi E) Mumbai
48. The Bank Case Information System (BCIS) is being developed by which of the following bodies, in the wake of increasing cases of bank frauds? It would contain names of accused persons besides the details of borrowers and the public servants concerned.
A) Reserve Bank of India B) Indian Banks’ Association C) Ministry of Finance
D) Central Statistical Organization E) Central Bureau of Investigation
49. The Maharashtra government has cancelled the license of the Maharashtra hybrid Seeds Company (Mahyco) to sell 12 genetically modified varieties of which crop, for allegedly giving false information on seed supply for this Kharif season?
A) Rice B) Maize C) Soybean D) Cotton E) Brinjal
50. Which is the first Latin American country India is negotiating with on a Comprehensive Economic Partnership Agreement (CEPA)?
A) Brazil B) Mexico C) Venezuela D) Chile E) Peru
1. A 2. C 3. D 4.B 5.C 6 C 7 A 8. D 9. D 10.B
11.B 12.C 13 E 14.A 15.C 16. A 17. D 18 B 19.E 20.B
21. B 22.D 23.E 24.E 25. B 26.B 27 D 28.C 29.B 30.C
31.B 32. A 33. C 34.B 35.C 36.D 37.D 38.D 39.E 40. C
41. C 42.C 43.C 44.D 45.B 46.A 47. B 48. E 49. D 50. D