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IBPS PO MAIN -CLERKS MAIN CURRENT AFFAIRS --Q & A

What is India’s position on World Bank’s latest edition of ‘ease of doing business’ index? 
Answer – 2. 100
Explanation

India has leaped to 100th rank out of 190 countries on World Bank’s latest edition of ‘ease of doing business’ index. This marks a forward leap of 30 places as compared to 130th rank in the previous edition of the index. In the report titled ‘Doing Business 2018: Reforming to Create Jobs’, India has been recognised as one of the top 10 improvers in this year’s assessment.
What is the amount fixed by RBI, for the latest Sovereign Gold Bond (SGB) series which opened on October 30, 2017? 
Answer – 1. Rs 2,945 per gram
Explanation

Reserve Bank of India (RBI) has announced that purchase price for the latest Sovereign Gold Bond (SGB) series which opened on October 30, 2017 has been fixed at Rs 2,945 per gram. These bonds can be subscribed from Monday to Wednesday every week. The price is based on the simple average closing price for gold of 999 purity of the last three business days of the week preceding the subscription period. Investors applying online and making the payment digitally will be eligible for a discount of Rs 50 per gram. Thus for such investors, the issue price will be Rs 2,895 per gram of gold.
Who is the new CEO of Paytm Payments Bank? 
Answer – 2. Sudhanshu Jain
Explanation

Paytm Payments Bank appointed former ICICI Bank executive Sudhanshu Jain as its Chief Financial Officer (CFO). Sudhanshu Jain has 14 years of experience across internal audit, finance and borrowing roles. He was earlier assistant general manager and head of borrowing at the foreign exchange desk at ICICI Bank.
Who is heading the Panel which was formed by Maharashtra State government to study the feasibility of merging financially weak District Central Cooperative Banks (DCCBs) with the Maharashtra State Cooperative (MSC) Bank?
Answer – 3. Yashwant Thorat
Explanation

Maharashtra State government has formed a panel to study the feasibility of merging financially weak District Central Cooperative Banks (DCCBs) with the Maharashtra State Cooperative (MSC) Bank. The panel is headed by former NABARD chairman Yashwant Thorat. The panel has also been mandated to study reasons for financial weakness of banks and suggest ways for improvement. It is expected to submit its report in a month’s time.
Which insurance company has come up with India’s first ever insurance cover for individual victims of cyber crime? 
Answer – 4. Bajaj Allianz
Explanation

Insurance firm Bajaj Allianz has come up with India’s first ever insurance cover for individual victims of cyber crime. Under this policy, insurance cover will be provided against online fraud, identity theft, cyber-stalking and extortion, phishing and malware attack. Sum insured for this policy is in the range of Rs 1 lakh to Rs 1 crore. Insurance premium would depend on the number of hours the individual spends online. Higher the time spent implies greater the risk and would entail higher premium.
Which digital payment platform recently launched ‘Inbox’, a messaging service that will allow consumers to chat with friends and family and send and request money at the same time? 
Answer – 5. Paytm
Explanation

digital payment platform Paytm launched ‘Inbox’, a messaging service that will allow consumers to chat with friends and family and send and request money at the same time. Paytm’s ‘Inbox’ is an end-to-end encrypted platform, through which users can users can initiate private conversations and create group chats. Users can even send photos and videos instantly, share live location. It also has a built-in camera which will enable to capture and share moments.
In which city of Pakistan, the Bank of China formally launched its operations?
Answer – 1. Karachi
Explanation

Bank of China formally launched its operations in Pakistan by opening its first branch in Karachi. With the opening of this branch of Bank of China, it is expected that the benefits of the China-Pakistan Economic Corridor (CPEC) would soon start reaching the masses. Karachi branch of Bank of China is the first in South Asia.
Who first launched the first-ever diamond futures contract with the total traded quantity in November expiry for 5,382.08 carats valued at Rs 173.32 crore? 
Answer – 2. Indian Commodity Exchange (ICEX)
Explanation

Indian Commodity Exchange (ICEX) said that, it has successfully completed first-ever diamond futures contracts settlement with the total traded quantity in November expiry for 5,382.08 carats valued at Rs 173.32 crore. ICEX had commenced operations on 28th August 2017 with the launch of three monthly diamond futures contracts – of November 2017, December 2017 and January 2018 expiry.
Who is appointed as the whole-time member of SEBI? 
Answer – 3. Sanjeev Kaushik
Explanation

Sanjeev Kaushik, a Kerala cadre IAS officer, has been appointed as whole-time member of SEBI. Sanjeev Kaushik has been appointed as whole time member of SEBI for a period of three years or till the age of 65 years, whichever is earlier. The Appointments Committee of the Cabinet has approved Kaushik’s appointment. Kaushik replaces S Raman, who retired from the post of a whole-time member in September 2017.
India along with which organisation singed a loan agreement for USD 119 million for the Odisha Higher Education Programme for Excellence and Equity (OHEPEE) Project? 
Answer – 3. World Bank
Explanation

India singed a loan agreement with World Bank for USD 119 million for the Odisha Higher Education Programme for Excellence and Equity (OHEPEE) Project. OHEPEE seeks to provide equitable access to students to selected institutions in Odisha and enhance governance of the higher education system in the state. This project will continue till November 2022.
Which private sector bank entered into a partnership with MobiKwik company to launch a co-branded virtual Visa prepaid card for customers of MobiKwik?
Answer – 3. IDFC Bank
Explanation

IDFC Bank entered into a strategic partnership with digital payments solution company MobiKwik to launch a co-branded virtual Visa prepaid card for customers of MobiKwik. By next week, IDFC Bank – Mobikwik Visa virtual pre-paid card facility will be available to all MobiKwik users on Android as well as iOS platform. To use the co-branded pre-paid card, the Mobikiwk user need not be a customer of IDFC Bank.
Linking of __________ with insurance policies were made mandatory by Insurance Regulatory and Development Authority of India (IRDA) under Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules, 2017? 
Answer – 2. Aadhaar Card
Explanation

Insurance Regulatory and Development Authority of India (IRDA) has announced that linking of Aadhaar number to insurance policies is now a mandatory requirement under Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules, 2017. This norm of linking Aadhaar number to insurance policies will apply to new customers as well as existing policy holders. Besides, it will apply not only to life insurance policies but also to general insurance policies.
In which Indian city, the United Arab Emirates (UAE’s) second largest bank, Emirates NBD has started its operations? 
Answer – 5. Mumbai
Explanation

United Arab Emirates (UAE’s) second largest bank, Emirates NBD has started operations in India by opening a branch in Mumbai. Emirates NBD, has a plan to invest USD 100 million capital into its Indian operations over a period of time. The Mumbai branch is Emirates NBD’s fifth international branch outside of its UAE.
Which international organisation has approved an USD 30 million soft loans for fourth phase of the North Eastern Region Community Resource Management Project (NERCORMP)? 
Answer – 4. International Fund for Agriculture Development (IFAD)
Explanation

International Fund for Agriculture Development (IFAD), an international financial institution and a specialised agency of the United Nations has approved a USD 30 million soft loans for fourth phase of the North Eastern Region Community Resource Management Project (NERCORMP). NERCORMP is a livelihood and rural development project aimed to transform the lives of the poor and marginalized tribal families in several districts of Assam, Meghalaya, Arunachal Pradesh and Manipur.
The government raised the maximum amount of home loan limit for central government employees to ____ lakhs? 
Answer – 1. 25
Explanation

The government raised the maximum amount that a central government employee can borrow from the government to Rs 25 lakh for new construction/purchase of new house/flat. The limit for home loan borrowing has been tripled for central government employees as per the 7th pay commission recommendations. Earlier this limit was only Rs 7.50 lakh. This move is going to benefit about 50 lakh central government employees all over India.
RBI released a new set of outsourcing norms for which of the following below? 
Answer – NBFC
Explanation

Reserve Bank of India (RBI) issued a notification outlining norms for outsourcing of functions/services by Non-Bank Financial Institution (NBFCs). As per the new norms, NBFCs cannot outsource core management functions like internal audit, management of investment portfolio, strategic and compliance functions for know your customer (KYC) norms and sanction of loans. Staff of service providers should have access to customer information only up to an extent which is required to perform the outsourced function.
FEMA norms eased to spur investment from overseas. This notification by RBI has combined which of the 2 existing regulations? 
Answer – 3. FEMA 20 and FEMA 24
Explanation

Reserve Bank of India (RBI) has simplified the Foreign Exchange Management regulations pertaining to Transfer or Issue of Security by a Person Resident outside India. This has been done by putting all the 93 amendments to Foreign Exchange Management Act (FEMA) under one notification. This notification by RBI has combined two existing regulations FEMA 20 and FEMA 24, which provides information on investment in an Indian company or a partnership, or in a limited liability partnership or in a partnership firm.
Which Digital payments company has launched its domestic operations in India and will now provide digital payment solutions for merchants and customers in India? 
Answer – 1. PayPal
Explanation

American Digital payments company PayPal has launched its domestic operations in India and will now provide digital payment solutions for merchants and customers in India. In the Indian market, PayPal has been offering cross border payments since last ten years. It claims to control a third of India’s Business to Customer (B2C) export payments. Senior officials of PayPal have stated that PayPal’s brand is basically based on three pillars viz. reliability, safety and security. Adhering to this ideology, PayPal will offer its services with ‘Buyer and Seller protection’ as a differentiating factor to create its presence in the highly competitive digital payments space of India.
Who imposed Fine on Gujarat CM Vijay Rupani’s Family for Manipulative Trading? 
Answer – 2. SEBI
Explanation

India’s securities market regulator Securities and Exchange Board of India (SEBI) has penalised 22 entities for involvement in manipulative trading. One of these 22 entities is Gujarat Chief Minister Vijay Rupani’s Hindu Undivided Family (HUF) that was found to be involved in manipulative trading through a listed firm called Sarang Chemicals. The alleged manipulative transactions by Mr. Rupani’s firm were done between January and June, 2011. Mr. Rupani’s firm has been asked to pay a Rs 15 lakh fine within 45 days.
Name the Private sector life insurance company that has entered into a tie-up with Bank of Bahrain and Kuwait (BBK) to sell retail and group insurance products to BBK’s customers in India? 
Answer – 1. PNB MetLife
Explanation

Private sector life insurance company PNB MetLife has entered into a tie-up with Bank of Bahrain and Kuwait (BBK) to sell retail and group insurance products to BBK’s customers in India. As per the terms of the tie-up, PNB MetLife will offer protection, health, savings and wealth plans to BBK’s customers in India spread across its branches. Besides the conventional products, customised insurance plans will also be offered to BBK customers in India.
Name the carrier airline which has received a loan worth of Rs 1,500 crore from Bank of India to meet urgent working capital needs? 
Answer – 4. Air India
Explanation

Air India has received Rs 1,500 crore loan from Bank of India after the tender for the amount was floated in October 2017, in order to meet urgent working capital needs. Earlier, Air India had borrowed around Rs 3,250 crore as short tenure loans from two lenders – IndusInd Bank and Punjab National Bank. This loan was also for meeting urgent working capital needs and the tender was floated in September 2017.
Which city will host the 34th annual conference of the Asian Bankers Association (ABA) on 16th and 17th November 2017? 
Answer – 2. Mumbai
Explanation

Mumbai is to host the 34th annual conference of the Asian Bankers Association (ABA) on 16th and 17th November 2017. The Asian Bankers Association (ABA) summit will be hosted by State Bank. The theme for this year’s summit is ‘Asia’s turn to transform’. The event is expected to be attended by more than 160 domestic and international bankers.
Which country hosted the 10th South Asia Economic Summit (SAES)?
Answer – 5. Nepal
Explanation

10th South Asia Economic Summit (SAES) begun in Kathmandu, Nepal on November 14, 2017. Theme of this summit: “Deepening Economic Integration for Inclusive and Sustainable Development in South Asia”. It has been organised by National Planning Commission and Ministry of Commerce of Nepal and South Asia Watch on Trade, Economics and Environment, Nepal.
As per a recent report by Bank of America Merrill Lynch (BofA-ML), by 2028, India is in which position regarding economy, in terms of nominal gross domestic product (GDP)? 
Answer – 2. 3rd
Explanation

As per a recent report by Bank of America Merrill Lynch (BofA-ML), by 2028, India is likely to overtake Japan as world’s third largest economy, in terms of nominal gross domestic product (GDP). This projection is based on the assumption that Indian economy will grow at 10% rate in US dollar terms over the next 10 years, ahead of Japan’s 1.6% growth rate. Besides, the report has forecasted that India will become a world’s fifth largest economy (ahead of France and United Kingdom) by 2019.
Who has been appointed as the new chairman of the leading stock exchange BSE? 
Answer – 4. Sethurathnam Ravi
Explanation

S Ravi, who was a public interest director at the BSE, replaced Dhirendra Swarup as chairman of BSE with effect from 13 November 2017. Presently, Ravi serves as a director on boards of various companies such as IDBI Capital Markets Services, UTI Trustee Company, S Ravi Financial Management Services, SMERA Ratings, SBI-SG Global Securities, IDBI Bank, STCI Finance, Tourism Finance Corporation of India and BOI Merchant Bankers.
Who was appointed to the Financial Stability Institute Advisory Board of the Bank of International Settlement (BIS)? 
Answer – 4. Urjit Patel
Explanation

RBI Governor Urjit Patel was appointed to the Financial Stability Institute Advisory Board of the Bank of International Settlement (BIS). Bank of International Settlement (BIS) is a global financial organisation owned by major central banks from across the world. The Financial Stability Institute (FSI) of the BIS assists financial sector authorities worldwide in strengthening their financial systems. The Advisory Board will provide strategic advice to help the FSI continue to meet its mandate in a way that is responsive to the changing needs of its key stakeholders around the world.
In which city the BSE Institute Limited (BIL) and DLT Labs together have planned to set up the India’s first state-of-the-art Block Chain Lab? 
Answer – 4. Mumbai
Explanation

BSE Institute Limited (BIL), a wholly owned subsidiary of BSE Limited has signed an Memorandum of Understanding with DLT Labs to set up the India’s first state-of-the-art Block Chain Lab in Mumbai. Objective behind signing this MoU is to provide knowledge driven, in class education and training in the field of financial technology, with a special emphasis on Block Chain. Both the entities expect Block Chain to be the next big disruptive financial technology.
In which port, India’s first mega coastal economic zone (CEZ) was set up? 
Answer – 2. Jawaharlal Nehru Port in Maharashtra
Explanation

Central Government has given approval for setting up India’s first mega coastal economic zone (CEZ) at the Jawaharlal Nehru Port in Maharashtra. India’s first mega CEZ will stretch along north Konkan region spread across Nashik, Thane, Mumbai, Pune and Raigarh. Despite of JNPT being one of the busiest cargo ports, it has been chosen for this project due to availability of sufficient land
Under whom, a panel was formed by Reserve Bank of India (RBI) which recommended a list of commodities which can be hedged in the overseas markets by all Indian residents? 
Answer – 5. Chandan Sinha
Explanation

A panel formed by Reserve Bank of India (RBI) under Chandan Sinha (former Executive Director of RBI) has recommended a list of commodities which can be hedged in the overseas markets by all Indian residents. Thus it has recommended a list of commodities (which includes gold, silver, zinc, tin, crude oil and its derivatives, coal, natural gas, tea, coffee, sugar and cocoa) which can be hedged in the overseas markets by all residents i.e. by both domestic users and exporters/importers.
According to recent Moody’s upgraded Sovereign Credit Rating, What is the rating given to India? 
Answer – 3. Baa2
Explanation

Moody’s Investors Service has upgraded the Government of India’s local and foreign currency issuer ratings to Baa2 from Baa3 and changed the outlook on the rating to stable from positive.
India’s rating has been upgraded by Moody’s after a gap of 13 years. It had last upgraded India’s sovereign credit rating in January 2004 to Baa3 (from Ba1). In the accompanying report, Moody’s has stated that India’s rating have been upgraded on expectations that major economic and institutional reforms undertaken by Government of India will enhance India’s high growth potential over a period of time and will help stabilize rising levels of debt.
In which city of Tamil Nadu, the private sector RBL Bank inaugurated an all women branch? 
Answer – 3. Chennai
Explanation

Private sector RBL Bank inaugurated an all women branch in Chennai, Tamil Nadu. The all-women branch in Chennai will be managed by eight women and will offer all products and services across liability and assets. This initiative is RBL Bank’s efforts in encouraging gender equality. Currently, RBL Bank has 246 branches and 389 ATM across India. It serves 3.54 million customers.The headquaters of RBL is Mumbai, Maharashtra.
According to Moody’s Investors Service upgraded ratings, how many Indian public sector firm’s rating got upgraded from Baa3 to Baa2? 
Answer – 5. 9
Explanation

Moody’s Investors Service upgraded ratings of nine Indian public sector firms. Ratings of BPCL, HPCL, IOC and Petronet LNG Ltd (PLL) was upgraded to Baa2 from Baa3. This was on account of India’s sovereign rating upgrade. ONGC’s rating, which was already higher than the sovereign rating, has also been upgraded to Baa1 from Baa2.
With which bank, the Reliance General Insurance, a subsidiary of Reliance Capital, has signed a comprehensive bancassurance-corporate agency agreement? 
Answer – 2. YES Bank
Explanation

Reliance General Insurance, a subsidiary of Reliance Capital, has signed a comprehensive bancassurance-corporate agency agreement with YES Bank. YES Bank with its network of 1,040 branches across all 29 States and seven Union Territories will enable Reliance General Insurance to reach a large base of retail and MSME (Micro, Small and Medium Enterprises) clients.
Who is the newly appointed executive director of SEBI? 
Answer – 4. Anand Rajeshwar Baiwar
Explanation

Anand Rajeshwar Baiwar is an Indian Revenue Service (IRS) officerof the 1990 batch. He assumed charge as SEBI executive director on 16 November 2017. Prior to this assignment, he was working as an income tax commissioner in Kolkata. He is a graduate in engineering as well as law. He holds Post Graduate Diploma in Management from IIM, Bangalore and is also a chartered financial analyst from ICFAI, Hyderabad.
According to Unique Identification Authority of India (UIDAI), who are not required to link bank accounts and other services with Aadhaar? 
Explanation
Unique Identification Authority of India (UIDAI) has stated that Non-resident Indian (NRIs) and Persons of Indian Origin (PIOs) are not required to link bank accounts and other services with Aadhaar. UIDAI had to come up with this clarification as it received several representations about problems faced by Non Resident Indians (NRIs), Person of Indian Origin (PIOs) and Overseas Citizens of India (OCI), where some Departments and implementing agencies were asking them to submit or link their Aadhaar for availing services.

State Bank of India (SBI) has cut its benchmark lending rate by _____% across its maturities?
Answer 3. 0.05
Explanation State Bank of India (SBI) has cut its benchmark lending rate by 0.05 per cent across maturities. This decision has reduced SBI’s marginal cost of funds based lending rate (MCLR) from 8.00 per cent to 7.95 per cent. SBI’s MCLR on overnight borrowings has been reduced from 7.75 per cent to 7.70 per cent, while the rate for three-year tenures has been lowered to 8.10 per cent from 8.15 per cent.

 To which Indian state, Asian Infrastructure Investment Bank (AIIB) approved the loan amount of Rs. 13,000 crore for five projects?
Answer 5. Andhra Pradesh
Explanation Asian Infrastructure Investment Bank (AIIB) approved Rs. 13,000 crore loan for five project in Andhra Pradesh. Five projects for which the loan has been granted, includes two projects of roads and buildings department, one project each of rural safe drinking water department and municipal and urban development department and one project of Panchayat Raj department.

According to the data released by Union Commerce and Industry Ministry which sectors registered a growth of 5.2% in September 2017?
Answer 4. Core industries
Explanation As per data released by Union Commerce and Industry Ministry on October 31, 2017, core industries registered a growth of 5.2% in September 2017. Coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity are together referred to as core industries. In September 2017, Production of coal, natural gas, refinery products, electricity generation and steel products increased. Crude output and cement production was stagnant while fertilisers output contracted.

Which is the India’s 1st wallet unveiled by Yes Bank  that is fully integrated with all the IndiaStack APIs and National Payment Corporation of India (NPCI) products?
Answer 4. Bhim Yes Pay
Explanation Private sector bank, Yes Bank has unveiled BHIM YES PAY which is being termed as India’s 1st wallet that is fully integrated with all the IndiaStack APIs and National Payment Corporation of India (NPCI) products. BHIM YES PAY is currently available for Android Users and will soon be available for iOS users.
Around 5.5 lakh customers of Yes Bank are currently registered on BHIM YES PAY.

How many digits are there in RBI’s Legal Entity Identifier (LEI) ?
Answer 2. 20 digits
Explanation Reserve Bank of India (RBI) issued a notification, directing corporate borrowers having exposure of Rs 5 crore and above to mandatorily obtain 20-digit Legal Entity Identifier (LEI).  LEI is a 20-digit global reference number that uniquely identifies every legal entity/organisation that is party to a financial transaction, in any country.

Which bank has received an approval from Reserved Bank of India (RBI) to operate as Scheduled Commercial Bank and has thereby been included in the Second Schedule of Reserve Bank of India Act, 1934?
Answer 3. AU Small Finance Bank
Explanation AU Small Finance Bank has received an approval from Reserved Bank of India (RBI) to operate as Scheduled Commercial Bank and has thereby been included in the Second Schedule of Reserve Bank of India Act, 1934. On acquiring the status of Scheduled Commercial Bank, AU Small Finance Bank will now be able to do borrowing and lending with RBI under Liquidity Adjustment Facility (LAF) and Marginal Standing Facility (MSF).





India’s current account deficit is what % of GDP this fiscal year 2017-18?
Answer 2. 1.5%
Explanation India’s current account deficit (CAD) for FY 2017-18 is expected to be around $40 billion, or 1.5 per cent of Gross Domestic Product (GDP). Current Account Deficit arises when outflow of foreign exchange from the country is greater than the inflow of foreign exchange. As per Nomura, CAD for first half of FY 2017-18 i.e. for April –September 2017 period, is expected to be around 2% GDP
As a payments bank, What is the maximum amount IPPB can accept as deposits per account from individuals and small businesses?
Answer 1. 1 lakh
Explanation As a payments bank, IPPB can accept deposits of up to Rs 1 lakh per account from individuals and small businesses. Union Communications Minister Manoj Sinha stated that India Posts Payments Bank (IPPB) will have nationwide presence by April 2017. By April 2018, IPPB branches will be opened in 650 districts across India.

Which Bank along with APPLE, launched India’s first voice-based international remittance service to enable non-resident Indians (NRIs) to send money to any bank in India?
Answer 3. ICICI bank
Explanation ICICI Bank launched of India’s first voice-based international remittance service to enable non-resident Indians (NRIs) to send money to any bank in India. A Non-Resident Indian (NRI) customer of ICICI Bank to send money to any bank in India via just a simple voice command to Apple’s virtual voice assistant, Siri,on Apple iPhone/iPad.


Which bank promised to give $100 billion of finance by 2025 to combat climate change?
Answer 4. HSBC
Explanation HSBC pledged to provide $100 billion in financing and investment by 2025 to help combat climate change.  HSBC has promised $100billion of finance for low-carbon technology and sustainable development by 2025 as part its commitment to tackling climate change and other “green” goals.

With an aim to promote a digital economy, which bank has made online transactions through RTGS and NEFT free of cost from 1st November 2017?
Answer 1. HDFC Bank
Explanation HDFC Bank Ltd has made online transactions through RTGS and NEFT free of cost from 1st November 2017, with an aim to promote a digital economy. According to the revised fees and charges for savings and salary accounts, customers will not have to pay any charge for doing online transactions through Real Time Gross Settlement (RTGS) and the National Electronics Funds Transfer (NEFT) from 1st November 2017.

 Which e-commerce company introduced payments using BHIM UPI through which users can create their own ID on the app, using which customers can transfer money?
Answer 4. Paytm
Explanation Paytm introduced payments using BHIM UPI through which users can create their own Paytm BHIM UPI ID on the app, using which customers can transfer money. Using BHIM UPI users can create their own Paytm BHIM UPI ID on the app, which will be issued by Paytm Payments Bank. Users can link any of their savings bank account with this unique Paytm BHIM UPI ID and start sending and accepting money.

Which commercial Bank formed a human chain to create awareness among the public to fight corruption in Bangalore?
Answer 5. Syndicate bank
Explanation Syndicate Bank formed a human chain to create awareness among the public to fight corruption. This human chain was formed by Syndicate Bank in Bengaluru, Karnataka. Syndicate Bank’s key people including Managing Director and CEO Melywyn Rego, Executive Directors,  SS Mallikarjuna Rao and S Krishnan also took part in this activity along with bank’s General Managers, Regional Managers and staff.

The Insolvency resolution norms are made stringent. As per the norm stipulated in this amendment, the antecedents, credit worthiness and credibility of a resolution applicant, including promoters will be checked by which committee before approving the resolution plan?
Answer 4. Committee of Creditors
Explanation The Insolvency and Bankruptcy Board of India (IBBI) has amended IBBI (Insolvency Resolution Process for Corporate Persons) Resolution Process, 2016 to ensure that the corporate insolvency resolution process results in a credible and viable resolution plan. As per the norm stipulated in this amendment, the antecedents, credit worthiness and credibility of a resolution applicant, including promoters will be checked by the Committee of Creditors before approving the resolution plan.

The Economic Research Department of which bank has released a report on oil price hike and how unlikely it is to impact the Current account deficit (CAD) and how inflation could stretch fiscal?
Answer 5. SBI
Explanation The Economic Research Department of State Bank of India (SBI) has released a report on oil price hike and how unlikely it is to impact the Current account deficit (CAD) and how inflation could stretch fiscal.The report is authored by Dr. Soumya Kanti Ghosh, Group Chief Economic Adviser of SBI. The report depicts oil price hike and its impact on the Current account deficit (CAD) and inflation.


In which two countries, the Federal Bank has obtained Reserve Bank of India (RBI’s) approval to open representative offices?
Answer 2. Kuwait and Singapore
Explanation Federal Bank has obtained Reserve Bank of India (RBI’s) approval to open representative offices in Kuwait and Singapore. Year-on-year, Federal Bank has been handling increasing inflow of foreign remittances and has now emerged as a preferred banker for Non-Resident Indians (NRIs). Opening up of representative offices in Kuwait and Singapore will facilitate liaising with NRIs for catering to their various financial requirements.

Reserve Bank of India (RBI) has asked banks to provide doorstep banking facilities for whom?
Answer 4. 1&2
Explanation Reserve Bank of India (RBI) has asked banks to provide doorstep banking facilities to senior citizens of more than 70 years of age and differently-abled persons including the visually-impaired. The facilities that are be extended include basic banking services like pick-up of cash and instruments against receipt, delivery of cash against withdrawal from accounts, delivery of demand drafts, chequebooks and submission of Know Your Customer (KYC) documents.

8. The American Congress has authorised up to $700 million in Coalition Support Fund (CSF), to repay to which country for activities carried out in support of US operations in Afghanistan?
Answer 2. Pakistan
Explanation The American Congress has authorised up to $700 million in Coalition Support Fund (CSF) to reimburse Pakistan for activities carried out in support of US operations in Afghanistan. The authorisation is included in the reconciled text of the House and Senate versions of the 2018 National Defence Authorisation Act (NDAA-2018). The reconciled version makes $350m of $700m available to Pakistan under the CSF contingent upon certification from the secretary of defence that Pakistan is taking demonstrable steps against the Haqqani network.

Which organisation supported Rs 6,000 crore scheme to improve the irrigation facilities and water accessibility capacity in several states?
Answer 1. World bank
Explanation Union minister Nitin Gadkari announced World Bank-supported Rs 6,000 crore scheme to improve the irrigation facilities and water accessibility capacity in several states. This scheme was announced by Nitin Gadkari at the inauguration of Agrovision Exhibition. Vice President Venkaiah Naidu was present on the occasion. He performed e-jalpoojan of Kerala Lift Irrigation Scheme and right bank canal of Gosikhurdh Irrigation project.

Ratings firm Crisil along with which bank has signed a Memorandum of Understanding (MoU) to launch CriSidEx, a sentiment Index for Micro, Small and Medium Enterprises (MSME)?
Answer 1. SIDBI
Explanation Ratings firm Crisil and Small Industries Development Bank of India (SIDBI) have signed a Memorandum of Understanding (MoU) to launch CriSidEx, a sentiment Index for Micro, Small and Medium Enterprises (MSME). This index will provide insights into employment, business environment and foreign trade trends in the MSME sector.

Targeting to raise initial amount of about how many crores as a part of disinvestment programme for the current fiscal year, the Government of India launched New Fund Offer (NFO) for BHARAT-22 Exchange Traded Fund (ETF)?
Answer 4. Rs. 8000cr
Explanation Government of India launched New Fund Offer (NFO) for BHARAT-22 Exchange Traded Fund (ETF), through which it is targeting to raise initial amount of about Rs. 8000 crore as a part of disinvestment programme for the current fiscal. New Fund Offer of Bharat-22 ETF will be open till November 17, 2017, and is being managed by ICICI Prudential Mutual Fund.

Which stock exchange launches a new Electronic Smart Trader which is an advanced hosted trading solution built on Thomson Reuters Omnesys NEST platform?
Answer 4. BSE (Bombay Stock Exchange)
Explanation Marketplace Tech Infra Services, an arm of the premier exchange BSE (Bombay Stock Exchange), launched BEST (BSE Electronic Smart Trader). BEST (BSE Electronic Smart Trader) is an advanced hosted trading solution built on Thomson Reuters Omnesys NEST platform. In October 2017, Marketplace had signed a pact with Thomson Reuters to build the trading solution for BSEs members and customers.

Digital payments services company, Paytm has entered in to a tie-up with which private Bank to jointly launch Bank Postpaid method that offers short-term credit to their common customers?
Answer 4. ICICI bank
Explanation Digital payments services company, Paytm has entered in to a tie-up with ICICI Bank to jointly launch ‘Paytm-ICICI Bank Postpaid’, that offers short-term credit to their common customers. ‘Paytm-ICICI Bank Postpaid’ offers instant digital credit for various transactions including payment for movie tickets, bill payments, flights, as well as physical goods without any documentation or transaction fees. Under this facility, real-time credit assessment of customers is done through  Big Data based algorithm of ICICI Bank.

Which capital market company has acquired South Africa-based First Rand Bank’s (FRB’s) microfinance business in India?
Answer 2. Centrum Capital 
Explanation In a bid to kick-start its lending operations focused on retail and small & medium enterprises (SMEs), Centrum Capital has acquired South Africa-based First Rand Bank’s (FRB’s) microfinance business in India. Centrum is a non-banking finance company (NBFC) which has already received a microfinance institution (MFI) licence from the Reserve bank of India (RBI). As FRB already has a Rs 200-crore loan book, around 70,000 customers and a staff strength of over 300 people, its acquisition will provide a ready-made platform for Centrum to foray in micro finance business.

Which bank along with Action Construction Equipment Ltd (ACE) has tied up for augmenting tractors/agricultural implements financing to the farmers across India?
Answer 2. Punjab National Bank (PNB)
Explanation Punjab National Bank (PNB) and Action Construction Equipment Ltd (ACE) have tied up for augmenting tractors/agricultural implements financing to the farmers across India through PNB’s branch network. A MoU regarding the tie-up was signed by B.M.Padha, Corporate General Manager, Priority Sector & Financial Inclusion Division, PNB and Ashok Kumar Tomar, COO, ACE(Agriculture Division) in the presence of Tirlochan Singh, Country Head, Retail Finance, ACE and other dignitaries.

Under ‘Mission Antyodaya’, what is the minimum balance a bank account should have?
Answer 2. Rs. 10,000
Explanation Central Government has set Rs 10000 minimum balance in bank account as one of the 21 parameters to assess poverty in gram panchayats under ‘Mission Antyodaya’. Union Rural Development Ministry’s ‘Mission Antyodaya’ aims to create 50000 poverty-free gram panchayats. The goal is to converge, all existing government initiatives and schemes in these 50000 gram panchayats so that every household within these panchayats is benefited which shall consequentially lead to elimination of poverty.

 According to the latest World Economic Outlook report of the International Monetary Fund (IMF), India is in which position out of 200 countries in terms of Gross Domestic Product (GDP) per capita?
Answer 3. 126
 Explanation As per data which forms part of the latest World Economic Outlook report of the International Monetary Fund (IMF), India ranks 126th out of 200 countries in terms of Gross Domestic Product (GDP) per capita. GDP Per Capita of a country is computed by dividing its gross domestic product(GDP) by the number of people in the country. In theoretical terms, higher GDP per capita results in to a higher standard of living. India’s rank has improved by one spot as compared to previous year’s rank. This improvement is on account of increase in GDP to USD 7170 in 2017, from USD 6690 in the previous year.


Which Bank has signed an MoU with Innovation Centre Denmark – India (ICDK India), to bring financial technology innovations and startups from Denmark to India?
Answer 2. Yes bank
Explanation Yes Bank has signed a Memorandum of Understanding (MoU) with Innovation Centre Denmark – India (ICDK India), to bring financial technology innovations and startups from Denmark to India, and facilitate entry of Indian startups in Denmark. ICDK is a partnership between the Ministry of Foreign Affairs of Denmark and the Danish Ministry of Higher Education and Science. This collaboration will not only promote innovation in fintech space but will also assist fintech companies in India and Denmark to gain entry in each other’s markets.

What is the new method launched by India Index Services & Products (IISL), a National Stock Exchange (NSE) Group entity, to measure the performance of small and medium enterprises (SMEs) listed on NSE’s EMERGE platform?
Answer 4. Nifty SME Emerge Index
Explanation India Index Services & Products (IISL), a National Stock Exchange (NSE) Group entity, launched Nifty SME Emerge Index, a new Nifty Index to measure the performance of small and medium enterprises (SMEs) listed on NSE’s EMERGE platform (dedicated NSE platform for small companies). This index represents about 62 per cent of the full market capitalisation of all SMEs listed on EMERGE. Launch of this index coincides with the listing of ANI Integrated Services, which has become 100th company to list on NSE EMERGE.

THANKS:  AFFAIRSCLOUD.




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