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BANKING RELATED GENERAL AWARENESS --50+ PAGES


Quiz 1 to 10  AND 12 TO 15

Q1. In which year NABARD was established?
(a) 1982
(b) 1976
(c) 1988
(d) 1956
(e) 1992

S1. Ans.(a)
Sol. NABARD came into existence on 12 July 1982 by transferring the agricultural credit functions of RBI and refinance functions of the then Agricultural Refinance and Development Corporation (ARDC). It was dedicated to the service of the nation by the late Prime Minister Smt. Indira Gandhi on 05 November 1982.

Q2. SIDBI set up on 2nd April _____________ under an Act of Indian Parliament, acts as the Principal Financial Institution for Promotion, Financing and Development of the Micro, Small and Medium Enterprise (MSME) sector as well as for coordination of functions of institutions engaged in similar activities.
(a) 1956
(b) 1999
(c) 1992
(d) 1990
(e) 1980

S2. Ans.(d)
Sol. Small Industries Development Bank of India (SIDBI) set up on 2nd April 1990 under an Act of Indian Parliament, acts as the Principal Financial Institution for Promotion, Financing and Development of the Micro, Small and Medium Enterprise (MSME) sector as well as for coordination of functions of institutions engaged in similar activities.

Q3. Which year National Housing Bank was set up?
(a) 1982
(b) 1988
(c) 1986
(d) 1990
(e) 1992

S3. Ans.(b)
Sol. NHB was set up on July 9, 1988, under the National Housing Bank Act, 1987.

Q4. Export-Import Bank of India is the premier export finance institution in India, established in ________________ under Export-Import Bank of India Act 1981.
(a) 1992
(b) 1988
(c) 1986
(d) 1990
(e) 1982

S4. Ans.(e)
Sol. Export-Import Bank of India is the premier export finance institution in India, established in 1982 under Export-Import Bank of India Act 1981.

Q5. The Reserve Bank of India is India's central banking institution, which controls the monetary policy of the Indian rupee. It commenced its operations on-
(a) 01st April 1934
(b) 01st April 1937
(c) 01st April 1935
(d) 01st April 1936
(e) 01st April 1949

S5. Ans.(c)
Sol. The Reserve Bank of India is India's central banking institution, which controls the monetary policy of the Indian rupee. It commenced its operations on 1 April 1935 in accordance with the Reserve Bank of India Act, 1934.

Q6. State Bank of India is an Indian multinational, public sector banking and financial services company. SBI was established on-
(a) 01st July 1951
(b) 01st July 1954
(c) 01st July 1953
(d) 01st July 1955
(e) 01st July 1956

S6. Ans.(d)
Sol. State Bank of India is an Indian multinational, public sector banking and financial services company. It is a government-owned corporation with its headquarters in Mumbai, Maharashtra. SBI was established on 01st July 1955.

Q7. Life Insurance Corporation of India is an Indian state-owned insurance group and investment company headquartered in Mumbai. LIC was established in-
(a) 1956
(b) 1962
(c) 1955
(d) 1949
(e) 1921

S7. Ans.(a)
Sol. Life Insurance Corporation of India is an Indian state-owned insurance group and investment company headquartered in Mumbai. LIC was established in 1956.

Q8. Established in ____________, FICCI is the largest and oldest apex business organisation in India.
(a) 1956
(b) 1949
(c) 1935
(d) 1921
(e) 1927

S8. Ans.(e)
Sol. Established in 1927, FICCI is the largest and oldest apex business organization in India. Its history is closely interwoven with India's struggle for independence, its industrialization, and its emergence as one of the most rapidly growing global economies.

Q9. The Insurance Regulatory and Development Authority of India is an autonomous, statutory body tasked with regulating and promoting the insurance and reinsurance industries in India. IRDAI was established in-
(a) 2001
(b) 1999
(c) 2000
(d) 1992
(e) 1990

S9. Ans.(c)
Sol. Following the recommendations of the Malhotra Committee report, in 1999, the Insurance Regulatory and Development Authority (IRDA) was constituted as an autonomous body to regulate and develop the insurance industry. The IRDA was incorporated as a statutory body in April, 2000. The key objectives of the IRDA include promotion of competition so as to enhance customer satisfaction through increased consumer choice and lower premiums while ensuring the financial security of the insurance market.

Q10. The Telecom Regulatory Authority of India (TRAI) is a statutory body set up by the Government of India under section 3 of the Telecom Regulatory Authority of India Act, 1997. TRAI was founded on-
(a) 20th February 1996
(b) 20th February 1997
(c) 20th February 1995
(d) 20th February 1992
(e) 20th February 1999

S10. Ans.(b)
Sol. The entry of private service providers brought with it the inevitable need for independent regulation. The Telecom Regulatory Authority of India (TRAI) was, thus, established with effect from 20th February 1997 by an Act of Parliament, called the Telecom Regulatory Authority of India Act, 1997, to regulate telecom services, including fixation/revision of tariffs for telecom services which were earlier vested in the Central Government.

Q11. National Institute of Bank Management (NIBM) was established in _________________ by the Reserve Bank of India, in consultation with the Government of India, as an autonomous apex institution for research, training, education, and consultancy in bank management. 
(a) 1979
(b) 1949
(c) 1969
(d) 1959
(e) 1989

S11. Ans.(c)
Sol. National Institute of Bank Management (NIBM) was established in 1969 by the Reserve Bank of India, in consultation with the Government of India, as an autonomous apex institution for research, training, education, and consultancy in bank management. Its mandate is to play a proactive role of “think-tank” of the banking system.

Q12. The Securities and Exchange Board of India (SRBI) is the regulator for the securities market in India. It was established on-
(a) 12th April 1992
(b) 12th April 1988
(c) 12th April 1990
(d) 12th April 1982
(e) 12th April 1999

S12. Ans.(a)
Sol. SEBI was established on 12th April 1992.

Q13. Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) was established by Reserve Bank of India (RBI) as its wholly owned subsidiary on-
(a) 03rd February 1991
(b) 03rd February 1992
(c) 03rd February 1997
(d) 03rd February 1999
(e) 03rd February 1995

S13. Ans.(e)
Sol. Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) was established by Reserve Bank of India (RBI) as its wholly owned subsidiary on 3rd February 1995 with a view to augmenting the production of bank notes in India to enable the RBI to bridge the gap between the supply and demand for bank notes in the country.

Q14. In which year, CIBIL Limited (formerly Credit Information Bureau (India) Limited) was incorporated based on recommendations made by the RBI Siddiqui Committee?
(a) 2002
(b) 2000
(c) 2001
(d) 2004
(e) 2003

S14. Ans.(b)
Sol. TransUnion CIBIL Limited (formerly Credit Information Bureau (India) Limited) was incorporated based on recommendations made by the RBI Siddiqui Committee.

Q15. The Institute for Development & Research in Banking Technology (IBDRT) is a unique institution exclusively focused on Banking Technology. Established by the Reserve Bank of India in-
(a) 2001
(b) 1999
(c) 1992
(d) 1996
(e) 1989

S15. Ans.(d)

Sol. The Institute for Development & Research in Banking Technology is a unique institution exclusively focused on Banking Technology. Established by the Reserve Bank of India in 1996, the Institution works at the intersection of Banking and Technology.
Q1. National Bank for Agriculture and Rural Development (NABARD) is an apex development financial institution in India. Where is the Head Office of NABARD?
(a) Lucknow 
(b) Chennai
(c) New Delhi
(d) Mumbai
(e) Kolkata

S1. Ans.(d)
Sol. National Bank for Agriculture and Rural Development (NABARD) is an apex development financial institution in India, headquartered in Mumbai with branches all over India.

Q2. Small Industries Development Bank of India is the principal development financial institution in India headquartered in-
(a) Lucknow
(b) Chennai
(c) New Delhi
(d) Mumbai
(e) Kolkata

S2. Ans.(a)
Sol. Small Industries Development Bank of India is the principal development financial institution in India headquartered in Lucknow, Uttar Pradesh.

Q3. National Housing Bank (NHB), a wholly owned subsidiary of Reserve Bank of India (RBI), was set up on 9 July 1988 under the National Housing Bank Act, 1987. Where is the Head Office of NHB?
(a) Lucknow
(b) Chennai
(c) New Delhi
(d) Mumbai
(e) Kolkata

S3. Ans.(c)
Sol. National Housing Bank (NHB), a wholly owned subsidiary of Reserve Bank of India (RBI), was set up on 9 July 1988 under the National Housing Bank Act, 1987. NHB is an apex financial institution for housing. The Head Office of NHB is in New Delhi.

Q4. Export-Import Bank of India is the premier export finance institution in India, established in 1982 under Export-Import Bank of India Act 1981. The Headquarters of EXIM Bank in-
(a) Hyderabad
(b) Kolkata
(c) Chennai
(d) New Delhi
(e) Mumbai

S4. Ans.(e)
Sol. Export-Import Bank of India is the premier export finance institution in India, established in 1982 under Export-Import Bank of India Act 1981. The Headquarters of EXIM Bank in Mumbai.

Q5. The Reserve Bank of India is India's central banking institution, which controls the monetary policy of the Indian rupee. Where is the Head office of RBI?
(a) Pune
(b) Mumbai
(c) Chennai
(d) New Delhi
(e) Kolkata

S5. Ans.(b)
Sol. The Reserve Bank of India is India's central banking institution, which controls the monetary policy of the Indian rupee. It commenced its operations on 1 April 1935 in accordance with the Reserve Bank of India Act, 1934. The Head office of RBI is in Mumbai.

Q6. State Bank of India is an Indian multinational, public sector banking and financial services company. It is a government-owned corporation with its headquarters in-
(a) Hyderabad
(b) Mumbai
(c) Chennai
(d) New Delhi
(e) Kolkata

S6. Ans.(b)
Sol. State Bank of India is an Indian multinational, public sector banking and financial services company. It is a government-owned corporation with its headquarters in Mumbai, Maharashtra.

Q7. Life Insurance Corporation of India is an Indian state-owned insurance group and investment company headquartered in-
(a) Hyderabad
(b) Kolkata
(c) Chennai
(d) New Delhi
(e) Mumbai

S7. Ans.(e)

Sol. Life Insurance Corporation of India is an Indian state-owned insurance group and investment company headquartered in Mumbai. It is the largest insurance company in India.

Q8. FICCI is the largest and oldest apex business organization in India. Where is the Head Office of FICCI?
(a) Hyderabad
(b) Kolkata
(c) Chennai
(d) New Delhi
(e) Mumbai

S8. Ans.(d)
Sol. Established in 1927, FICCI is the largest and oldest apex business organization in India. Its history is closely interwoven with India's struggle for independence, its industrialization, and its emergence as one of the most rapidly growing global economies. New Delhi is the Head Office of FICCI.

Q9. The IRDAI is an autonomous, statutory body tasked with regulating and promoting the insurance and reinsurance industries in India. Where is the head office of IRDAI?
(a) Hyderabad
(b) Kolkata
(c) Chennai
(d) New Delhi
(e) Mumbai

S9. Ans.(a)
Sol. The Insurance Regulatory and Development Authority of India is an autonomous, statutory body tasked with regulating and promoting the insurance and reinsurance industries in India. The head office of IRDAI is in Hyderabad.

Q10. Where is the Headquarters of Telecom Regulatory Authority of India (TRAI)?
(a) Hyderabad
(b) Kolkata
(c) New Delhi
(d) Chennai
(e) Mumbai

S10. Ans.(c)
Sol. The Telecom Regulatory Authority of India or TRAI is a statutory body set up by the Government of India under section 3 of the Telecom Regulatory Authority of India Act, 1997. It is the regulator of the telecommunications sector in India.

Q11. National Institute of Bank Management is an Indian institution for research, training, and consultancy in banking and finance. It is located in-
(a) Bengaluru
(b) Allahabad
(c) Pune
(d) Siliguri
(e) Kochin

S11. Ans.(c)
Sol. National Institute of Bank Management is an Indian institution for research, training, and consultancy in banking and finance. It is located in Pune. The campus is self-contained, with residential and educational facilities.

Q12. The Securities and Exchange Board of India (SEBI) is the regulator for the securities market in India. Where is the Head Office of SEBI?
(a) Bengaluru
(b) Kolkata
(c) Hyderabad
(d) New Delhi
(e) Mumbai

S12. Ans.(e)
Sol. The Securities and Exchange Board of India was established on April 12, 1992, in accordance with the provisions of the Securities and Exchange Board of India Act, 1992. The Head Office of SEBI is in Mumbai.

Q13. Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) is one of the subsidiaries of Reserve Bank of India which prints banknotes for Reserve Bank of India. Where is the Corporate Office of BRBNMPL? 
(a) Bengaluru
(b) Kolkata
(c) Hyderabad
(d) New Delhi
(e) Mumbai

S13. Ans.(a)
Sol. Bharatiya Reserve Bank Note Mudran Private Limited is one of the subsidiaries of Reserve Bank of India which prints bank notes for Reserve Bank of India. It was established in 1995 to address the demand of bank notes. The Corporate and Registered Office of BRBNMPL.

Q14. CIBIL Limited is a credit information company operating in India. CIBIL Limited based in-
(a) Bengaluru
(b) Kolkata
(c) Hyderabad
(d) Mumbai
(e) New Delhi

S14. Ans.(d)
Sol. CIBIL Limited is a credit information company operating in India. CIBIL or CIBIL Limited is Mumbai based company.

Q15. The Institute for Development & Research in Banking Technology (IDRBT) is a unique institution exclusively focused on Banking Technology. Established by RBI. Where is the Head Office of IDRBT?
(a) Bengaluru
(b) Kolkata
(c) Hyderabad
(d) Mumbai
(e) New Delhi

S15. Ans.(c)

Sol. he Institute for Development & Research in Banking Technology is a unique institution exclusively focused on Banking Technology. Established by the Reserve Bank of India in 1996, the Institution works at the intersection of Banking and Technology. The Head Office of IDRBT is in Hyderabad.
Q1. Who is the present Director of Pune based National Institute of Bank Management (NIBM)?
(a) HK Bhanwala
(b) Ajay Tyagi
(c) BP Kanungo
(d) KL Dhingra
(e) Sudarshan Sen

S1. Ans.(d)
Sol. Dr. K. L. Dhingra is the Director of National Institute of Bank Management (NIBM), Pune, since May 01, 2017.

Q2. Name the person, who is Chairman of Institute for Development & Research in Banking Technology (IDRBT)?
(a) HK Bhanwala
(b) Ajay Tyagi
(c) BP Kanungo
(d) KL Dhingra
(e) Sudarshan Sen

S2. Ans.(c)
Sol. BP Kanungo is Chairman of Institute for Development & Research in Banking Technology (IDRBT).

Q3. Who is present and 24th governor of RBI?
(a) Urjit Patel
(b) Ajay Tyagi
(c) BP Kanungo
(d) Raghuram Rajan
(e) Sudarshan Sen

S3. Ans.(a)
Sol. Urjit R. Patel is an Indian economist, who is currently serving as 24th Governor of Reserve Bank of India since September 2016.

Q4. Name the person, who is present Chairman of Life Insurance Corporation?
(a) Hemant Bhargava
(b) B Venugopal
(c) Subhash Chandra Garg
(d) Usha Sangwan 
(e) V K Sharma

S4. Ans.(e)
Sol. Shri Vijay Kumar Sharma or VK Sharma took charge as Chairman, Life Insurance Corporation of India on 16th December 2016. Prior to his taking over as Chairman, he served as Chairman (In charge) from 16th September 2016 and Managing Director, Life Insurance Corporation of India from 1st November 2013. From December 2010 to November 2013, he has been Managing Director & Chief Executive Officer, LIC Housing Finance Limited (LICHFL), a premiere housing finance company in the country.

Q5. Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) has been registered as a Private Limited Company under the Companies Act 1956 with its Registered and Corporate Office situated in Bengaluru. Who is Chairman of BRBNMPL?
(a) HK Bhanwala
(b) BP Kanungo
(c) Uma Shankar
(d) KL Dhingra
(e) Sudarshan Sen

S5. Ans.(b)
Sol. Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) was established by Reserve Bank of India (RBI) as its wholly owned subsidiary on 3rd February 1995 with a view to augmenting the production of bank notes in India to enable the RBI to bridge the gap between the supply and demand for bank notes in the country. The BRBNMPL has been registered as a Private Limited Company under the Companies Act 1956 with its Registered and Corporate Office situated at Bengaluru. The company manages 2 Presses one at Mysore in Karnataka and the other at Salboni in West Bengal. The present capacity for both the presses is 16 billion note pieces per year on a 2-shift basis.  B. P. Kanungo is present Chairman of BRBNMPL.

Q6. NABARD came into existence on 12th July 1982 by transferring the agricultural credit functions of RBI and refinance functions of the then Agricultural Refinance and Development Corporation (ARDC). Name the Chairman of NABARD?
(a) RS Sharma
(b) HK Bhanwala
(c) Uma Shankar
(d) Ajay Tyagi
(e) Sudarshan Sen

S6. Ans.(b)
Sol. Dr. Harsh Kumar Bhanwala is the Chairman of National Bank for Agriculture and Rural Development (NABARD) since December 18, 2013. He is a Post Graduate in Management from IIM Ahmedabad and holds Ph.D. in Management. He has been awarded the honorary doctorate in Science by Tamil Nadu Agricultural University, Coimbatore.

Q7. Who is the Chairperson of SBI?
(a) Kishor Kharat
(b) Anupam Srivastava
(c) Usha Ananthasubramanian
(d) Sunil Mehta
(e) Rajnish Kumar

S7. Ans.(e)
Sol. Rajnish Kumar is an Indian banker. He is Chairman of the State Bank of India He joined SBI as a Probationary officer in 1980.

Q8. Name the person, who is the present Chairman of IRDAI?
(a) HK Bhanwala
(b) Ajay Tyagi
(c) TS Vijayan
(d) RS Sharma
(e) Mohammad Mustafa

S8. Ans.(c)
Sol. TS Vijayan is the present Chairman of IRDAI.

Q9. Small Industries Development Bank of India or SIDBI is the principal development financial institution in India headquartered in Lucknow with branches all over India. Who is Chairman of SIDBI?
(a) Mohammad Mustafa
(b) Dr. Kshatrapati Shivaji
(c) TS Vijayan
(d) RS Sharma
(e) HK Bhanwala

S9. Ans.(a)
Sol. Mohammad Mustafa is Chairman of SIDBI.

Q10. The Securities and Exchange Board of India (SEBI) is the regulator for the securities market in India. Who is present Chairman of SEBI?
(a) HK Bhanwala
(b) RS Sharma
(c) TS Vijayan
(d) Ajay Tyagi
(e) Mohammad Mustafa

S10. Ans.(d)
Sol. The Securities and Exchange Board of India (SEBI) is the designated regulatory body for the finance and investment markets in India. The board plays a vital role in maintaining stable and efficient financial and investment markets by creating and enforcing the effective regulation in India's financial marketplace. Ajay Tyagi is present Chairman of SEBI.

Q11. Name the person, who is Managing Director & Chief Executive Officer of National Housing Bank?
(a) Arundhati Bhattacharya
(b) SS Mundra
(c) Yaduvendra Mathur
(d) Kshatrapati Shivaji
(e) Sriram Kalyanaraman

S11. Ans.(e)
Sol. Shri Sriram Kalyanaraman is Managing Director & Chief Executive Officer of National Housing Bank.

Q12. Established by the Government of India, we commenced operations in 1982 under the Export-Import Bank of India Act, 1981 as a purveyor of export credit, mirroring global Export Credit Agencies. Who is Managing Director of Export-Import Bank of India (Exim Bank)?
(a) Ramesh Abhishek 
(b) Bharti Taneja
(c) Rita Teootia 
(d) David Rasquinha
(e) Naina Lal Kidwai

S12. Ans.(d)
Sol. Mr. David Rasquinha has been appointed by the Government of India as Managing Director of Export-Import Bank of India (Exim Bank). Prior to this appointment, he was Deputy Managing Director of Exim Bank.

Q13. FICCI is the voice of India's business and industry. Who is the present President (2017-18) of FICCI?
(a) Pankaj R Patel 
(b) Sandip Somany 
(c) Rashesh Shah
(d) Harshavardhan Neotia
(e) Jyotsna Suri

S13. Ans.(c)
Sol. Rashesh Shah is the President of FICCI for the year 2017-18.

14. The Telecom Regulatory Authority of India (TRAI) was, thus, established with effect from 20th February 1997 by an Act of Parliament, called the Telecom Regulatory Authority of India Act, 1997, to regulate telecom services, including fixation/revision of tariffs for telecom services which were earlier vested in the Central Government. Who is Chairman of TRAI?
(a) Bharti Taneja
(b) RS Sharma
(c) Anil Kaushal
(d) Rahul Khullar
(e) Jyotsna Suri

S14. Ans.(b)
Sol. The entry of private service providers brought with it the inevitable need for independent regulation. The Telecom Regulatory Authority of India (TRAI) was, thus, established with effect from 20th February 1997 by an Act of Parliament, called the Telecom Regulatory Authority of India Act, 1997, to regulate telecom services, including fixation/revision of tariffs for telecom services which were earlier vested in the Central Government. RS Sharma is Chairman of TRAI.

Q15. Name the person, who is Chief Executive Officer and Managing Director at Credit Information Bureau (India) Limited (CIBIL).
(a) Satish Pillai
(b) RS Sharma
(c) Anil Kaushal
(d) Rahul Khullar
(e) Jyotsna Suri

S15. Ans.(a)
Sol. Satish Pillai is the present Chief Executive Officer and Managing Director at Credit Information Bureau (India) Ltd.
Q1. Uttar Pradesh Finance Minister Rajesh Aggarwal has presented a mega budget of over __________________ with a focus on farmers, artisans, youth, infrastructure and urban development.
(a) Rs 12.31 lakh crore 
(b) Rs 04.28 lakh crore
(c) Rs 05.72 lakh crore 
(d) Rs 10.17 lakh crore 
(e) Rs 23.54 lakh crore

S1. Ans.(b)
Sol. Yogi Adityanath government in Uttar Pradesh presented its second budget. Ahead of 2019, general elections, this is considered one of biggest budgetary allocation for the state. UP Finance Minister Rajesh Aggarwal presented a mega budget of over Rs 4.28 lakh crore with a focus on farmers, artisans, youth, infrastructure and urban development.

Q2. Retirement fund body Employees’ Provident Fund Organisation (EPFO) has reduced the interest rate on deposits to ___________ for 2017-18 from 8.65% for 2016-17.
(a) 8.35%
(b) 8.40%
(c) 8.45%
(d) 8.50%
(e) 8.55%

S2. Ans.(e)
Sol. Retirement fund body Employees’ Provident Fund Organisation (EPFO) has reduced the interest rate on deposits to 8.55% for 2017-18 from 8.65% for 2016-17.

Q3. ____________ Chief Minister Manohar Parrikar presented in the state assembly Rs. 17,123-crore budget for 2018-19, an increase of 6.84% over the ongoing fiscal.
(a) Dadra and Nagar Haveli
(b) Gujarat
(c) Goa
(d) Maharashtra
(e) Punjab

S3. Ans.(c)
Sol. Goa Chief Minister Manohar Parrikar presented in the state assembly Rs. 17,123-crore budget for 2018-19, an increase of 6.84% over the ongoing fiscal. The Budget focuses on education and job creation.

Q4. Capital First announced that the regulator National Housing Bank (NHB) has approved the merger of the company along with Capital Home Finance and Capital First Securities Limited with-
(a) IDFC Bank
(b) HDFC Bank
(c) Axis Bank
(d) Kotak Mahindra Bank
(e) South Indian Bank

S4. Ans.(a)
Sol. Capital First announced that the regulator National Housing Bank (NHB) has approved the merger of the company along with Capital Home Finance and Capital First Securities Limited with IDFC Bank.

Q5. The Reserve Bank of India has launched Ombudsman Scheme for non-banking financial companies (NBFCs) for redressal of complaints against them. In which city, the offices of the NBFC ombudsmen will function?
(a) Mumbai
(b) Kolkata
(c) Chennai
(d) New Delhi
(e) All of the above

S5. Ans.(e)
Sol. The Reserve Bank of India has launched Ombudsman Scheme for non-banking financial companies (NBFCs) for redressal of complaints against them. The scheme will provide a cost-free and expeditious complaint redressal mechanism relating to deficiency in the services by NBFCs covered under the scheme. The scheme will cover all deposit-taking NBFCs, and based on the experience gained. The offices of the NBFC ombudsmen will function at four metro centres – New Delhi, Mumbai, Kolkata and Chennai.

Q6. Where is the Head Office of AU Small Finance Bank?
(a) Muzaffarpur
(b) Fatehpur
(c) Kanpur
(d) Nagpur
(e) Jaipur

S6. Ans.(e)
Sol. Jaipur, Rajasthan is the Headoffice of AU Small Finance Bank.

Q7. Name the country, which was the largest source of foreign investment in India (21.8 percent share at market value), followed by the US and the UK, according to a census by the Reserve Bank of India.
(a) UK
(b) Japan
(c) US
(d) Mauritius
(e) Singapore

S7. Ans.(d)
Sol. Mauritius was the largest source of foreign investment in India (21.8 per cent share at market value), followed by the US and the UK, according to a census by the Reserve Bank of India. Singapore and Japan were the next two sources of foreign direct investment (FDI), reported the Census on Foreign Liabilities and Assets of Indian Direct Investment Companies 2016-17, released by RBI.

Q8. Japan has been found to have the best structure of production in the Geneva-based World Economic Forum or WEF's first ‘Readiness for the future of production report’ and is followed by South Korea, Germany, Switzerland, China, Czech Republic, the US, Sweden, Austria and Ireland in the top 10. WEF was established in-
(a) 1982
(b) 1945
(c) 1971
(d) 1944
(e) 1956

S8. Ans.(c)
Sol. WEF was established in 1971.

Q9. In the financial year 2016-17, total FDI of US $ 60.08 billion has been received, which is an all-time high. The Cabinet chaired by ______________ has approved amendments in FDI Policy and further liberalized few of the policies of FDI. 
(a) Arvind Subramanian
(b) Urjit Patel
(c) Hasmukh Adhia
(d) Arun Jaitley
(e) Narendra Modi

S9. Ans.(e)
Sol. In the financial year 2016-17, total FDI of US $ 60.08 billion has been received, which is an all-time high. The Cabinet chaired by PM Narendra Modi has approved amendments in FDI Policy and further liberalized few of the policies of FDI.
Key Highlights-
100% FDI under automatic route for Single Brand Retail Trading.
100% FDI under automatic route in Construction Development.
Foreign airlines allowed to invest up to 49% under approval route in Air India.
FIIs/FPIs allowed investing in Power Exchanges through primary market.
Definition of ‘medical devices’ amended in the FDI Policy.

Q10. Paytm has set up a new entity called Paytm Money Ltd that will offer investment and wealth management products and will invest close to ____________ upfront in the new entity.
(a) $20 million
(b) $10 million
(c) $30 million 
(d) $05 million
(e) $1 million

S10. Ans.(b)
Sol. Paytm has set up a new entity called Paytm Money Ltd that will offer investment and wealth management products and will invest close to $10 million upfront in the new entity. Paytm Money is the fourth product from One97’s stable after Paytm Mall, Paytm Payments Bank and Paytm wallet. It will be available as a separate mobile application to users.

Q11. Which of the following Private sector Bank has launched the fourth edition of ‘Evolve’ in Coimbatore, Tamil Nadu recently?
(a) Kotak Mahindra Bank
(b) ICICI Bank
(c) HDFC Bank
(d) Axis Bank
(e) South Indian Bank

S11. Ans.(d)
Sol. Private sector Axis Bank launched the fourth edition of ‘Evolve’ in Coimbatore, Tamil Nadu. It is an annual multi-city knowledge series for Bank’s small and medium-sized enterprises (SME) customers. The current edition of 'evolve' is titled as “Transform your Family Business into your dream company”.

Q12. Indian Overseas Bank (IOB) has received ____________ crore capital infusion from the government in the current fiscal.
(a) Rs 1177.07 crore
(b) Rs 173.06 crore
(c) Rs 1548.03 crore
(d) Rs 453.05 crore
(e) Rs 1000.09 crore

S12. Ans.(b)
Sol. Indian Overseas Bank (IOB) has received Rs173.06 crore capital infusion from the government in the current fiscal. In a regulatory filing, IOB has received Rs173.06 crore a the contribution of the central government in the preferential allotment of equity shares of the bank as government’s investment during the 2017-18 fiscal.

Q13. The Reserve Bank of India will link the base rate with the MCLR from 1st of April 2018 to ensure expeditious transmission of its policy rate to borrowers. What is the meaning of "R" in MCLR?
(a) Ratio
(b) Reimburse
(c) Risk
(d) Reserve
(e) Rates

S13. Ans.(e)
Sol. The Reserve Bank of India will link the base rate with the MCLR from 1st of April 2018 to ensure expeditious transmission of its policy rate to borrowers. The RBI had introduced the Marginal Cost of Funds based Lending Rates (MCLR) system with effect from 1st April 2016, the Central bank observed that a large proportion of bank loans continue to be linked to Base Rate.

Q14. The Reserve Bank of India announced setting up the ombudsman for addressing customer grievances in the non-banking finance companies. The Banking Ombudsman Scheme is introduced under Section 35 A of the Banking Regulation Act, 1949 by RBI with effect from-
(a) 1991
(b) 1993
(c) 1995
(d) 1997
(e) 1999

S14. Ans.(c)
Sol. The Reserve Bank of India announced setting up the ombudsman for addressing customer grievances in the non-banking finance companies. The rules will be laid out by the end of February 2018. The Banking Ombudsman Scheme is an expeditious and inexpensive forum for bank customers for resolution of complaints relating to certain services rendered by banks. The Banking Ombudsman Scheme is introduced under Section 35 A of the Banking Regulation Act, 1949 by RBI with effect from 1995.

Q15. Which Bank has launched its new Sonic Identity, which is essentially a musical logo called 'MOGO', as part of its branding initiatives?
(a) IndusInd Bank
(b) Lakshmi Vilas Bank
(c) RBL Bank
(d) Karnataka Bank
(e) Karur Vysya Bank

S15. Ans.(a)
Sol. IndusInd Bank launched its new Sonic Identity, which is essentially a musical logo called 'MOGO', as part of its branding initiatives. The objective for associating to a sonic identity is building the Bank's brand imagery with the strategic use of music and sound for brand experiences and audience connection.
Q1. Online Food ordering and delivery platform Swiggy has partnered with ____________ to roll out two digital solutions to facilitate the transfer of funds for its delivery partners.
(a) ICICI Bank
(b) State Bank of India
(c) HDFC Bank
(d) Kotak Mahindra Bank
(e) Bank of India

S1. Ans.(a)
Sol. Online Food ordering and delivery platform Swiggy has partnered with the country's largest private sector lender ICICI Bank to roll out two digital solutions to facilitate the transfer of funds for its delivery partners.

Q2. Which of the following Bank has allowed the amalgamation of its wholly own subsidiary- All Bank Finance Ltd (ABFL)-with the lender by Ministry of Corporate Affairs recently?
(a) Corporation Bank
(b) Bank of Baroda
(c) Punjab National Bank
(d) Allahabad Bank
(e) Indian Bank

S2. Ans.(d)
Sol. According to the officials of Allahabad Bank, the Ministry of Corporate Affairs has allowed the amalgamation of its wholly own subsidiary - All Bank Finance Ltd (ABFL)-with the lender.

Q3. Which Bank has signed an agreement with the Government e-Marketplace (GeM) under which the bank will facilitate a host of services to the public procurement portal for Central and state government organizations?
(a) Federal Bank
(b) South Indian Bank
(c) Nainital Bank
(d) Axis Bank
(e) HDFC Bank

S3. Ans.(e)
Sol. Private sector lender HDFC Bank signed an agreement with the Government e-Marketplace (GeM) under which the bank will facilitate a host of services to the public procurement portal for Central and state government organizations.

Q4. Which among the following Small Finance Bank has launched a new ‘Yellow Army Savings Account’ to increase its customer base through its association with the Chennai Super Kings (CSK), a franchise of the Indian Premium League (IPL)?
(a) ESAF Microfinance and Investments Private Limited
(b) Disha Microfin Private Limited
(c) Equitas Small Finance Bank
(d) Ujjivan Small Finance Bank
(e) Capital Local Area Bank

S4. Ans.(c)
Sol. Equitas Small Finance Bank has launched a new ‘Yellow Army Savings Account’ to increase its customer base through its association with the Chennai Super Kings (CSK), a franchise of the Indian Premium League (IPL).

Q5. SWIFT announces the extension of its GPI Tracker to cover all payment instructions sent across the network, enabling GPI banks to track all their SWIFT payment instructions at all times, and giving them full visibility over all their payments activity. What is the meaning of "S" in SWIFT?
(a) Service
(b) Society
(c) System
(d) Scheme
(e) Social

S5. Ans.(b)
Sol. SWIFT announces the extension of its GPI Tracker to cover all payment instructions sent across the network, enabling GPI banks to track all their SWIFT payment instructions at all times, and giving them full visibility over all their payments activity. SWIFT stands for Society for Worldwide Interbank Financial Telecommunication Code.

Q6. Which Bank/ organization has announced that it will provide a USD 500 million credit facility to Economic Community of West African States (ECOWAS) to fund various development projects in western-south Africa?
(a) Export-Import Bank
(b) National Bank for Agriculture and Rural Development
(c) Small Industries Development Bank of India 
(d) National Housing Bank
(e) State Bank of India

S6. Ans.(a)
Sol. The Export-Import Bank, Exim Bank has announced that it will provide a USD 500 million credit facility to Economic Community of West African States (ECOWAS) to fund various development projects in western-south Africa.

Q7. SEBI has allowed physical settlement of both stock options and stock futures. At present only cash settlement of derivatives is allowed. Where is the Head Office of SEBI?
(a) New Delhi
(b) Mumbai
(c) Hyderabad
(d) Kolkata
(e) Bengaluru

S7. Ans.(b)
Sol. The stock market regulator Securities & Exchange Board of India (SEBI) has allowed physical settlement of both stock options and stock futures. At present only cash settlement of derivatives is allowed. The Head office of SEBI is in Mumbai.

Q8. The RBI has imposed a monetary penalty of _______________ on ICICI Bank Limited for non-compliance with the directions issued by the RBI on direct sale of securities from its Held To Maturity (HTM) portfolio and specified disclosure in this regard.
(a) Rs. 100.2 crore
(b) Rs. 402.1 crore
(c) Rs. 58.9 crore
(d) Rs. 1000.8 crore
(e) Rs. 1.7 crore

S8. Ans.(c)
Sol. The RBI has imposed a monetary penalty of Rs. 58.9 crore on ICICI Bank Limited for non-compliance with the directions issued by the RBI on direct sale of securities from its Held To Maturity (HTM) portfolio and specified disclosure in this regard.

Q9. In a bid to prevent the possibility of manipulation in the prices of securities, especially government securities (G-Secs), ________________________ has changed the methodology used by debt market players, including banks and primary dealers, for their valuation. 
(a) Ministry of Finance
(b) Ministry of Corporate Affairs
(c) Securities and Exchange Board of India 
(d) Reserve Bank of India
(e) National Bank for Agriculture and Rural Development

S9. Ans.(d)
Sol. In a bid to prevent the possibility of manipulation in the prices of securities, especially government securities (G-Secs), the Reserve Bank of India has changed the methodology used by debt market players, including banks and primary dealers, for their valuation.

Q10. SEBI has decided to double the investment limit by angel funds in venture capital undertakings to-
(a) Rs. 25 crore
(b) Rs. 15 crore
(c) Rs. 20 crore
(d) Rs. 5 crore
(e) Rs. 10 crore

S10. Ans.(e)
Sol. Looking to provide an impetus to early-stage start-ups, markets regulator Securities and Exchange Board of India (SEBI) decided to double the investment limit by angel funds in venture capital undertakings to Rs10 crore from the current Rs5 crore.

Q11. Jana Small Finance Bank (formerly Janalakshmi Financial Services) announced commencement of its banking operations. Jana Small Finance Bank based in-
(a) Jaipur
(b) Chennai 
(c) Bengaluru
(d) Kolkata
(e) Mumbai

S11. Ans.(c)
Sol. Jana Small Finance Bank (formerly Janalakshmi Financial Services) announced the commencement of its banking operations. To cover its extensive customer base, Jana Bank will initially open 19 branches across 18 States and expand to 200 banking outlets,  including the 25% unbanked rural branches by June 2018. Jana Small Finance Bank headquarters in Bengaluru, Karnataka.

Q12. SIDBI has celebrated its foundation day on 02nd April ____________ as the day of Sampark (connect), Sanwad (interaction), Suraksha (security) and Sampreshan (disseminate).
(a) 1990
(b) 1992
(c) 1988
(d) 1982
(e) 1999

S12. Ans.(a)
Sol. SIDBI (Small Industries Development Bank of India) celebrated its foundation day (2nd April 1990) as the day of Sampark (connect), Sanwad (interaction), Suraksha (security) and Sampreshan (disseminate). Chairman Managing Director of SIDBI Mohammad Mustafa launched a series of initiatives from its Lucknow bank headquarters.

Q13. An MoU was signed between the Indian Army and _______________ on the Defence Salary Package.
(a) ICICI Bank
(b) State Bank of India
(c) Bank of India
(d) Kotak Mahindra Bank
(e) HDFC Bank

S13. Ans.(e)
Sol. An MoU was signed between the Indian Army and HDFC Bank on the Defence Salary Package. The first MoU between HDFC Bank and the Indian Army was signed in 2011 and was renewed in Mar 2015. The current MoU is tailor-made to suit the requirements of serving soldiers, pensioners and families.

Q14. Jio Payments Bank Limited has commenced operations as a payments bank. RBI has issued a license to the bank under Section _____________ of the Banking Regulation Act, 1949 to carry on the business of payments bank in India.
(a) Section 22 (5)
(b) Section 25 (4)
(c) Section 32 (4)
(d) Section 22 (1)
(e) Section 16 (3)

S14. Ans.(d)
Sol. Jio Payments Bank Limited has commenced operations as a payments bank. The Reserve Bank has issued a license to the bank under Section 22 (1) of the Banking Regulation Act, 1949 to carry on the business of payments bank in India.

Q15. Which of the following Bank has received RBI's approval to buy the securities services arm of IL&FS recently?
(a) Federal Bank
(b) IndusInd Bank
(c) South Indian Bank 
(d) Axis Bank
(e) HDFC Bank

S15. Ans.(b)
Sol. Private sector lender IndusInd Bank has received RBI's approval to buy the securities services arm of IL&FS. In March 2017, the bank entered an agreement with Infrastructure Leasing and Financial Services, the promoter shareholder of IL&FS Securities Services Ltd (ISSL), to acquire 100% stake in ISSL.
Q1. India’s exports grew by _______________ in February-2018 to 25.8 billion dollars.
(a) 1.5% 
(b) 7.5% 
(c) 6.5% 
(d) 4.5%
(e) 5.5%

S1. Ans.(d)
Sol. India’s exports grew by 4.5% in February-2018 to 25.8 billion dollars. It was 24.7 billion dollar during the same period in February-2017. This announcement was made by the Commerce Secretary Rita Teaotia.

Q2. Several Budget proposals, including the reintroduction of the tax on long-term capital gains (LTCG) exceeding ____________ from the sale of shares, has kicked from 01st April 2018, the beginning of the 2018-19 financial year.
(a) Rs 1 lakh
(b) Rs 2 lakh 
(c) Rs 3 lakh
(d) Rs 4 lakh
(e) Rs 5 lakh

S2. Ans.(a)
Sol. Several Budget proposals, including the reintroduction of the tax on long-term capital gains (LTCG) exceeding Rs 1 lakh from the sale of shares, will kick in from 01st April 2018, the beginning of the 2018-19 financial year.

Q3. Monetary Policy Committee has decided to keep the policy repo rate in 1st Bi-Monthly Monetary Policy Statement 2017-18 under the liquidity adjustment facility (LAF) unchanged at-
(a) 6.50%
(b) 6.25%
(c) 6.75%
(d) 5.75%
(e) 6.00%

S3. Ans.(e)
Sol. On the basis of an assessment of the current and evolving macroeconomic situation at its meeting, the Monetary Policy Committee (MPC) decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.0% in 1st Bi-Monthly Monetary Policy Statement 2017-18 Released By RBI.

Q4. India’s foreign exchange reserves hit a life-time high of 424.361 billion US dollar after rising by 1.828 billion dollars in the week to 30th March 2018. The foreign reserves are managed by-
(a) Ministry of Finance
(b) Government of India
(c) Reserve Bank of India
(d) Export–Import Bank of India
(e) Ministry of Corporate Affairs

S4. Ans.(c)
Sol. India’s foreign exchange reserves hit a life-time high of 424.361 billion US dollar after rising by 1.828 billion dollars in the week to March 30, according to the Reserve Bank of India data. Gold reserves remained unchanged at 21.614 billion US dollar. The reserves are managed by the Reserve Bank of India for the Indian government and the main component is foreign currency assets.

Q5. The Reserve Bank of India switched back to the Gross Domestic Product (GDP)-based measure to offer its growth estimates from the GVA methodology. GVA stands for-
(a) General Value Added
(b) Gross Value Added
(c) Gross Vehicle Added
(d) Gross Value Agency
(e) Global Value Added

S5. Ans.(b)

Sol. The Reserve Bank of India switched back to the Gross Domestic Product (GDP)-based measure to offer its growth estimates from the Gross Value Added (GVA) methodology, citing global best practices.

Q6. RBI, in consultation with the Government, has hiked the FPI investment limit in Central government securities (G-Sec) from 5% of outstanding stock now to 5.5% in FY2019 and _____________ in FY2020.
(a) 6.0%
(b) 5.9%
(c) 5.8%
(d) 5.7%
(e) 5.6%

S6. Ans.(a)
Sol. In a move that could temporarily soften bond yields, the Reserve Bank of India, in consultation with the Government, hiked the foreign portfolio investors (FPI) investment limit in Central government securities (G-Sec) from 5% of outstanding stock now to 5.5% in FY2019 and 6% in FY2020.

Q7. Deutsche Bank AG named Christian Sewing as the Chief Executive officer of the Bank. He has replaced John Cryan. Deutsche Bank based in-
(a) Canada
(b) Germany
(c) Japan
(d) Switzerland
(e) China

S7. Ans.(b)
Sol. Deutsche Bank AG named Christian Sewing as the Chief Executive officer of the Bank. He has replaced John Cryan. Sewing will take over with immediate effect. Deutsche Bank established its first branch in India in 1980. Deutsche Bank Headquarters in Frankfurt, Germany.

Q8. Digital payments company PayPal and FIEO has signed an agreement for the promotion of outbound shipments among small and medium enterprises (SMEs) leveraging the partners' expertise and technology products. What is the meaning of "I" in FIEO?
(a) Initial
(b) International
(c) Indian
(d) Increase
(e) Important

S8. Ans.(c)
Sol. Digital payments company PayPal and the Federation of Indian Export Organisations (FIEO) signed an agreement for the promotion of outbound shipments among small and medium enterprises (SMEs) leveraging the partners' expertise and technology products.

Q9. Name the Bank, which has signed a $930-million deal with China's energy conglomerate Golden Concord (GCL) to produce and sell solar equipment in India.
(a) State Bank of India
(b) Bank of Japan
(c) Federal Reserve
(d) SoftBank
(e) People's Bank of China

S9. Ans.(d)
Sol. SoftBank has signed a $930-million deal with China's energy conglomerate Golden Concord (GCL) to produce and sell solar equipment in India.

Q10. The Centre, Maharastra Government, and the World Bank have signed a _____________ million dollar project to help small and marginals farmers in the Marathwada and Vidarbha region of the state. 
(a) 102 million dollar 
(b) 100 million dollar 
(c) 956 million dollar 
(d) 1004 million dollar 
(e) 420 million dollar

S10. Ans.(e)
Sol. The Centre, Maharastra Government, and the World Bank have signed a 420 million dollar project to help small and marginals farmers in the Marathwada and Vidarbha region of the state. This project will help in increasing climate resilient practices in agriculture and ensuring that farming continues to remain a financially viable activity for them.

Q11. Rivigo, a homegrown logistics start-up that owns as well as acts as an aggregator of trucks, is tying up with YES Bank, IDFC, and 10 other financial institutions to make cheaper funds available to truck owners and operators on its platform. The funds will be available at an interest rate of- 
(a) 2-3 percent per month
(b) 1-2 percent per month
(c) 3-4 percent per month
(d) 4-5 percent per month
(e) 5-6 percent per month

S11. Ans.(b)
Sol. Rivigo, a homegrown logistics start-up that owns as well as acts as an aggregator of trucks, is tying up with YES Bank, IDFC, and 10 other financial institutions to make cheaper funds available to truck owners and operators on its platform. The funds will be available at an interest rate of 1-2 percent per month, lower than the usual industry standard of 2-3 percent.

Q12. India and Canada were signed to establish bilateral cooperation activities in the field of IPRs. IPRs stands for-
(a) Intellectual Property Region
(b) Intellectual Product Rights
(c) International Property Rights
(d) Intellectual Property Rights
(e) Indian Property Rights

S12. Ans.(d)
Sol. The Union Cabinet chaired by PM Narendra Modi has given its ex-post approval for MoU between India and Canada. The MoU was signed to establish bilateral cooperation activities in the field of Intellectual Property Rights (IPRs). The MoU is intended to promote innovation, creativity and economic growth in both countries.

Q13. The Asian Development Bank (ADB) and the Government of India signed ______________ million loan agreement to help modernize technical and vocational education and training (TVET) institutions and improve the skills ecosystem in the State of Himachal Pradesh.
(a) $80 million
(b) $70 million
(c) $50 million
(d) $10 million
(e) $100 million

S13. Ans.(a)
Sol. The Asian Development Bank (ADB) and the Government of India signed $80 million loan agreement to help modernize technical and vocational education and training (TVET) institutions and improve the skills ecosystem in the State of Himachal Pradesh.

Q14. GIFT city and Deloitte Touche Tohmatsu India LLP (DTTILLP) has Signed an MoU To Promote IFSC Operations recently. What is the meaning of "F" in IFSC?
(a) First
(b) Funding
(c) Following
(d) Finance
(e) Financial

S14. Ans.(e)
Sol. GIFT City has signed an MoU with Deloitte Touche Tohmatsu India LLP (DTTILLP), which renders consultancy services, for mutual cooperation in areas related to international financial services. GIFT City is a global business district offering a platform for business opportunities in international and domestic business operations. The MoU was signed with an aim of assisting domestic and international clients set up operations at the GIFT-located International Financial Services Centre (IFSC).

Q15. RBI has recently constituted an expert committee to look into a range of issues relating to classification of bad loans, rising incidents of frauds and effectiveness of audits. The committee under the chairmanship of-
(a) Usha Ananthasubramanian
(b) Arvind Subramanian
(c) YH Malegam
(d) Vimal Jalan
(e) Ratan P Watal

S15. Ans.(c)

Sol. Reserve Bank of India (RBI) has constituted an expert committee under the chairmanship of YH Malegam to look into a range of issues relating to classification of bad loans, rising incidents of frauds and effectiveness of audits. Y H Malegam is a former member of the Central Board of Directors of RBI. A K Misra – Executive Director of RBI will be the Member-Secretary of the committee.
Q1. NIBM is an Indian institution for research, training, and consultancy in banking and finance. What is the meaning of "B" in NIBM?
(a) Base
(b) Bank
(c) Branch
(d) Banking
(e) Brand

S1. Ans.(b)
Sol. National Institute of Bank Management or NIBM is an Indian institution for research, training, and consultancy in banking and finance. It is located in Pune.

Q2. IDRBT is a unique institution exclusively focused on Banking Technology. What is the meaning of "D" in IDRBT?
(a) Distance
(b) Derivative
(c) District
(d) Department
(e) Development

S2. Ans.(e)
Sol. The Institute for Development & Research in Banking Technology (IDRBT) is a unique institution exclusively focused on Banking Technology. Established by the Reserve Bank of India in 1996, the Institution works at the intersection of Banking and Technology.

Q3. NABARD stands for-
(a) National Bank for Agriculture and Rural Derivative 
(b) National Bank for Agriculture and Rural District
(c) National Bank for Agriculture and Rural Development
(d) National Bank for Agriculture and Rural Division
(e) National Bank for Agriculture and Rural Department

S3. Ans.(c)
Sol. NABARD stands for National Bank for Agriculture and Rural Development.

Q4. IRDAI stands for-
(a) Insurance Regulatory and Development Authority of India
(b) Insurance Regulatory and Development Agency of India
(c) Insurance Regulatory and Development Association of India
(d) Insurance Regulatory and Development Assembly of India
(e) Insurance Regulatory and Development Audit of India

S4. Ans.(a)
Sol. The Insurance Regulatory and Development Authority of India (IRDAI) is an autonomous, statutory body tasked with regulating and promoting the insurance and re-insurance industries in India.

Q5. SEBI is the regulator for the securities market in India. What is the meaning of "S" in SEBI?
(a) Short
(b) Scheme
(c) Service
(d) Securities
(e) Stock

S5. Ans.(d)
Sol. The Securities and Exchange Board of India or SEBI is the regulator for the securities market in India.

Q6. FICCI is the voice of India's business and industry. FICCI stands for-
(a) Federation of International Chambers of Commerce and Industry
(b) Foundation of Indian Chambers of Commerce and Industry
(c) Federation of Indian Chambers of Commerce and Industry
(d) Federation of Indian Common of Commerce and Industry
(e) Federation of Indian Chambers of Commerce and International

S6. Ans.(c)
Sol. The Federation of Indian Chambers of Commerce and Industry (FICCI) is an association of business organizations in India.

Q7. BRBNMPL is a wholly owned subsidiary of RBI which prints banknotes (Indian rupees) for the RBI. BRBNMPL stands for-
(a) Bharatiya Reserve Bank Note Mudran Private Limited
(b) Bharatiya Reserve Bank National Mudran Private Limited
(c) Bharatiya Reserve Bank Note Mudran Public Limited
(d) Bharatiya Reserve Bank Note Medium Private Limited
(e) Bharatiya Reserve Bank Note Management Private Limited

S7. Ans.(a)
Sol. Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) is a wholly owned subsidiary of Reserve Bank of India which prints bank notes (Indian rupees) for the Reserve Bank of India (RBI). It was established in 1995 to address the demand of bank notes.

Q8. SIDBI is the principal development financial institution in India headquartered in Lucknow with branches all over India. What is the meaning of "S" in SIDBI?
(a) Short
(b) Scheme
(c) Securities 
(d) Small
(e) Stock

S8. Ans.(d)
Sol. Small Industries Development Bank of India (SIDBI) is the principal development financial institution in India headquartered in Lucknow with branches all over India.

Q9. What is the full form of CIBIL?
(a) Customer Information Bureau (India) Limited
(b) Credit Information Bureau (India) Limited
(c) Credit Industrial Bureau (India) Limited
(d) Credit Information Bank (India) Limited
(e) Credit Information Branch (India) Limited

S9. Ans.(b)
Sol. CIBIL stands for Credit Information Bureau (India) Limited.

Q10. TRAI is a statutory body set up by the Government of India. What is the meaning of "A" in TRAI?
(a) Applied
(b) Agency
(c) Assembly
(d) Association
(e) Authority

S10. Ans.(e)
Sol. The Telecom Regulatory Authority of India (TRAI) is a statutory body set up by the Government of India under section 3 of the Telecom Regulatory Authority of India Act, 1997.
Q1. The IFAD is an international financial institution and a specialized agency of the United Nations dedicated to eradicating poverty and hunger in rural areas of developing countries. IFAD stands for-
(a) International Fund for Agricultural Derivative 
(b) International Fund for Association Development 
(c) Indian Fund for Agricultural Development 
(d) International Fund for Agricultural Development
(e) International Financial for Agricultural Development

S1. Ans.(d)

Sol. The International Fund for Agricultural Development (IFAD) is an international financial institution and a specialised agency of the United Nations dedicated to eradicating poverty and hunger in rural areas of developing countries.

Q2. The EIB is the European Union's bank and it is the world’s largest multilateral borrower and lender. What is the meaning of "I" in EIB?
(a) Investment
(b) International
(c) Initially
(d) Installment
(e) Indian

S2. Ans.(a)
Sol. The European Investment Bank (EIB) is the European Union's bank. EIB is the only bank owned by and representing the interests of the European Union Member States. It is work closely with other EU institutions to implement EU policy.

Q3. Where is the head office of IFAD?
(a) Vienna, Austria
(b) London, UK
(c) Paris, France
(d) Berlin, Germany
(e) Rome, Italy

S3. Ans.(e)
Sol. The Head Office of International Fund for Agricultural Development (IFAD) is in Rome, Italy.

Q4. Where is the Headquarters of EIB?
(a) Italy
(b) UK
(c) Luxembourg
(d) Germany
(e) Switzerland

S4. Ans.(c)
Sol. The Headquarters of European Investment Bank (EIB) is in Luxembourg.

Q5. The Islamic Development Bank is a multilateral development financing institution located in-
(a) Muscat, Oman
(b) Jeddah, Saudi Arabia
(c) Kuwait City, Kuwait 
(d) Manama, Bahrain
(e) Doha, Qatar

S5. Ans.(b)
Sol. The Islamic Development Bank is a multilateral development financing institution located in Jeddah, Saudi Arabia.

Q6. The EBRD is an international financial institution. EBRD stands for-
(a) European Basel for Reconstruction and Development
(b) European Bank for Reconstruction and Department 
(c) European Bank for Reconstruction and Development
(d) English Bank for Reconstruction and Development
(e) European Basic for Reconstruction and Development

S6. Ans.(c)
Sol. The European Bank for Reconstruction and Development (EBRD) is an international financial institution founded in 1991.

Q7. Where is the Head Office of EBRD?
(a) Rome
(b) Vienna
(c) Berlin
(d) Geneva
(e) London

S7. Ans.(e)
Sol. The European Bank for Reconstruction and Development is an international financial institution founded in 1991. As a multilateral developmental investment bank, the EBRD uses investment as a tool to build market economies. The Head Office of EBRD is in London, UK.

Q8. IIB is a multilateral institution for development that promotes social and economic development, prosperity, and economic cooperation between its member states. IIB stands for- 
(a) International Investment Bank
(b) International Indian Bank 
(c) International Installment Bank 
(d) International Institution Bank 
(e) International Important Bank

S8. Ans.(a)
Sol. The International Investment Bank (IIB) is a multilateral institution for development that promotes social and economic development, prosperity, and economic cooperation between its member states. Main directions for its activities are the support of the small and medium-sized businesses and participation in financing socially significant infrastructure projects. The Bank provides loans primarily through leading domestic publicly owned financial institutions, development banks, export and import banks and agencies, or lends in partnership with other international institutions for development.

Q9. African Development Bank is coordinating the implementation of an integrated development strategy for Portuguese-speaking countries in Africa. In which among the following year African Development Bank was founded?
(a) 1984
(b) 1977
(c) 1972
(d) 1963
(e) 1967

S9. Ans.(d)
Sol. The African Development Bank (AfDB) Group is a regional multilateral development finance institution established to contribute to the economic development and social progress of African countries that are the institution’s Regional Member Countries (RMCs). The AfDB was founded following an agreement signed by member states on August 14, 1963, in Khartoum, Sudan, which became effective on September 10, 1964. The AfDB comprises three entities: the African Development Bank (ADB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF).

Q10. Where is the head office of African Development Bank?
(a) Ouagadougou
(b) Abidjan
(c) Porto-Novo
(d) Accra
(e) Bamako

S10. Ans.(b)
Sol. The head office of African Development Bank is in Abidjan, Cote d'Ivoire.

Q11. ADB was conceived in the early 1960s as a financial institution. ADB stands for-
(a) Asian Department Bank
(b) Asian District Bank
(c) African Development Bank
(d) American Development Bank
(e) Asian Development Bank

S11. Ans.(e)
Sol. The Asian Development Bank was conceived in the early 1960s as a financial institution that would be Asian in character and foster economic growth and cooperation in one of the poorest regions in the world.

Q12. NDB, formerly referred to as the BRICS Development Bank, is a multilateral development bank established by the BRICS states. What is the full form of NDB?
(a) New Department Bank
(b) Nominal Development Bank
(c) New Development Basel
(d) New Development Bank
(e) National Development Bank

S12. Ans.(d)
Sol. The New Development Bank or NDB, formerly referred to as the BRICS Development Bank, is a multilateral development bank established by the BRICS states.

Q13. Where is the head office of ADB?
(a) New Delhi
(b) Vienna
(c) Manila
(d) Beijing
(e) Tokyo

S13. Ans.(c)
Sol. The Asian Development Bank (ADB) is a regional development bank established on 19 December 1966, which is headquartered in the Ortigas Center located in the city of Mandaluyong, Metro Manila, Philippines.

Q14. Who is the first President of NDB?
(a) Rakesh Sethi
(b) KV Kamath
(c) Arun Jaitley
(d) Raghuram Rajan
(e) Pratip Chaudhury

S14. Ans.(b)
Sol. KV Kamath is the first President of New Development Bank (NDB).

Q15. The AIIB is a multilateral development bank that aims to support the building of infrastructure in the Asia-Pacific region. AIIB stands for-
(a) Asian Infrastructure Investment Bank
(b) African Infrastructure Investment Bank
(c) Asian International Investment Bank
(d) Asian Indian Investment Bank
(e) Asian Infrastructure Important Bank

S15. Ans.(a)

Sol. The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank that aims to support the building of infrastructure in the Asia-Pacific region.
Q1. Which of the following rates is decided by the market conditions and not by RBI?
(a) Bank rate
(b) SLR
(c) CRR
(d) Inflation rate
(e) MSF

Q2. Proposals for setting up of new banks are under active consideration. Which organization gives this permission?
(a) RBI
(b) Indian Banks Association
(c) Finance Ministry
(d) Cabinet Committee on Economic Affairs
(e) SEBI

Q3. Basel norms are important international regulatory stipulations. It is meant for which sector?
(a) Insurance
(b) Banking
(c) Micro Finance
(d) Pension funds
(e) Trade

Q4. Which of the following institutions is not directly associated with the financial sector in India?
(a) Bombay Stock Exchange
(b) BIFR
(c) SEBI
(d) Planning Commission
(e) IBBI

Q5. Which discussing investments there is mention of short term government security. What is this type of investment known as?
(a) Debenture
(b) Mutual fund
(c) Treasury bill
(d) Share
(e) None of the given options is true

Q6. A bank normally does not have to deal with an issue related to—
(a) Payments and settlements system
(b) Contractual rights of creditors
(c) Intellectual property rights
(d) Cases of insolvency
(e) Education or Home loan

Q7. The monetary and credit policy of India is the responsibility of which of the following?
(a) Planning Commission
(b) Finance Ministry
(c) RBI
(d) National Advisory Council
(e) SEBI

Q8. When RBI raises the Cash Reserve Ratio rate what action are the banks required to take?
(a) They have to deposit additional money with RBI as reserve money
(b) Banks are required to increase their lending to the priority sector
(c) Banks also increase their lending and deposit rates
(d) All of the above
(e) None of the given options is true

Q9. Which of the following statements is correct?
(a) RBI is just like any ordinary commercial bank
(b) RBI is responsible for the overall monetary policy
(c) The fiscal policy of India is approved by RBI
(d) RBI has Dy. Chairman Planning Commission on its board
(e) None of the given options is true

Q10. Bank rate as fixed by RBI means— 
(a) Rate of interest charged by banks from borrowers
(b) Rate of interest on bank deposits
(c) Rate of interest charged by RBI on its loans to banks
(d) Rate of interest on inter bank loans
(e) None of the given options is true

Q11. Increase in remittances from non resident Indians suggest—
(a) Increase in the balance of payments deficit in India
(b) Reduces the balance of payments deficit in India
(c) Has no effect on the balance of payments position
(d) All of the above
(e) None of the given options is true

Q12. Which of the following is not a method of credit control?
(a) Cash reserve ratio
(b) Open market operations
(c) Credit deposit ratio
(d) Bank rate policy
(e) None of the given options is true

Q13. The interest rate at which the RBI lends to commercial banks in the short term to maintain liquidity is known as—
(a) Interest rate
(b) Repo rate
(c) Reverse repo rate
(d) Bank rate
(e) Reverse Repo rate

Q14. What are the cooperative banks at the village level known as?
(a) Central cooperative banks
(b) Primary agricultural cooperative societies
(c) Village cooperative banks
(d) State cooperative banks
(e) None of the given options is true

Q15. Which nationalized bank was the first to sponsor a regional rural bank in India?
(a) Syndicate Bank
(b) Bank of India
(c) Union Bank of India
(d) Central Bank of India
(e) None of the given options is true
Q1. Uttar Pradesh Finance Minister Rajesh Aggarwal has presented a mega budget of over __________________ with a focus on farmers, artisans, youth, infrastructure and urban development.
(a) Rs 12.31 lakh crore 
(b) Rs 04.28 lakh crore
(c) Rs 05.72 lakh crore 
(d) Rs 10.17 lakh crore 
(e) Rs 23.54 lakh crore

S1. Ans.(b)
Sol. Yogi Adityanath government in Uttar Pradesh presented its second budget. Ahead of 2019, general elections, this is considered one of biggest budgetary allocation for the state. UP Finance Minister Rajesh Aggarwal presented a mega budget of over Rs 4.28 lakh crore with a focus on farmers, artisans, youth, infrastructure and urban development.

Q2. Retirement fund body Employees’ Provident Fund Organisation (EPFO) has reduced the interest rate on deposits to ___________ for 2017-18 from 8.65% for 2016-17.
(a) 8.35%
(b) 8.40%
(c) 8.45%
(d) 8.50%
(e) 8.55%

S2. Ans.(e)
Sol. Retirement fund body Employees’ Provident Fund Organisation (EPFO) has reduced the interest rate on deposits to 8.55% for 2017-18 from 8.65% for 2016-17.

Q3. ____________ Chief Minister Manohar Parrikar presented in the state assembly Rs. 17,123-crore budget for 2018-19, an increase of 6.84% over the ongoing fiscal.
(a) Dadra and Nagar Haveli
(b) Gujarat
(c) Goa
(d) Maharashtra
(e) Punjab

S3. Ans.(c)
Sol. Goa Chief Minister Manohar Parrikar presented in the state assembly Rs. 17,123-crore budget for 2018-19, an increase of 6.84% over the ongoing fiscal. The Budget focuses on education and job creation.

Q4. Capital First announced that the regulator National Housing Bank (NHB) has approved the merger of the company along with Capital Home Finance and Capital First Securities Limited with-
(a) IDFC Bank
(b) HDFC Bank
(c) Axis Bank
(d) Kotak Mahindra Bank
(e) South Indian Bank

S4. Ans.(a)
Sol. Capital First announced that the regulator National Housing Bank (NHB) has approved the merger of the company along with Capital Home Finance and Capital First Securities Limited with IDFC Bank.

Q5. The Reserve Bank of India has launched Ombudsman Scheme for non-banking financial companies (NBFCs) for redressal of complaints against them. In which city, the offices of the NBFC ombudsmen will function?
(a) Mumbai
(b) Kolkata
(c) Chennai
(d) New Delhi
(e) All of the above

S5. Ans.(e)
Sol. The Reserve Bank of India has launched Ombudsman Scheme for non-banking financial companies (NBFCs) for redressal of complaints against them. The scheme will provide a cost-free and expeditious complaint redressal mechanism relating to deficiency in the services by NBFCs covered under the scheme. The scheme will cover all deposit-taking NBFCs, and based on the experience gained. The offices of the NBFC ombudsmen will function at four metro centres – New Delhi, Mumbai, Kolkata and Chennai.

Q6. Moody's Investors Service estimated that India will grow ___________ in the calendar year 2018 and _________ in 2019, amid signs of economic recovery from the impact of demonetisation and GST.
(a) 7.2% and 7.3%
(b) 7.4% and 7.5%
(c) 7.7% and 7.9%
(d) 7.6% and 7.8%
(e) 7.6% and 7.5%

S6. Ans.(e)
Sol. Moody's Investors Service estimated that India will grow 7.6% in the calendar year 2018 and 7.5% in 2019, amid signs of economic recovery from the impact of demonetisation and GST.

Q7. Ministry of Tourism has estimates monthly FEEs through Tourism in India. FEEs stands for-
(a) Financial Exchange Earnings
(b) Foreign Exchange Earning
(c) Foreign Exchange Energy
(d) Foreign Exchange Earnings
(e) Foreign Electronic Earnings

S7. Ans.(d)
Sol. Ministry of Tourism estimates monthly Foreign Exchange Earnings (FEEs) through Tourism in India, both in Rupee and Dollar terms based on the credit data of Travel Head from Balance of Payments of Reserve Bank of India (RBI).

Q8. The growth rate in FEEs in rupee terms in January 2018 over January 2017 was ___________ compared to the growth of 18.0% in January 2017 over January 2016.
(a) 9.3%
(b) 9.7%
(c) 9.9%
(d) 9.1%
(e) 9.5%

S8. Ans.(c)
Sol. The growth rate in FEEs in rupee terms in January 2018 over January 2017 was 9.9%, compared to the growth of 18.0% in January 2017 over January 2016.

Q9. According to CSO, the Indian economy grew at a five-quarter high of ____________ in the October-December (2017) period reflecting overall recovery due to good show by agriculture, manufacturing, construction and certain services.
(a) 7.6%
(b) 7.2%
(c) 7.7%
(d) 7.9%
(e) 7.1%

S9. Ans.(b)
Sol. The Indian economy grew at a five-quarter high of 7.2% in the October-December period reflecting overall recovery due to good show by agriculture, manufacturing, construction and certain services. The economy is expected to grow at 6.6% in the current fiscal ending March 31, as per the second advanced estimates of the Central Statistics Office (CSO).

Q10. Name the Indian Bank, which is set for a major restructuring of its business in the United Kingdom from April 2018? 
(a) State Bank of India
(b) Punjab National Bank
(c) United Bank of India
(d) Bank of Baroda
(e) Indian Bank

S10. Ans.(a)
Sol. State Bank of India (SBI) is set for a major restructuring of its business in the Unite Kingdom from April. SBI's UK operations will transform into a subsidiary named State Bank of India UK Limited from April 1, in compliance with wider ring-fencing of capital requirements by the Bank of England.

Q11. UPI-PIN (UPI Personal Identification Number) is a ______ digit pass code you create/set during first time registration with this App. 
(a) 6-8 digits
(b) 2-4 digits
(c) 7-9 digits
(d) 4-6 digits
(e) 3-5 digits

S11. Ans.(d)
Sol. UPI-PIN (UPI Personal Identification Number) is a 4-6 digit pass code you create/set during first time registration with this App. You have to enter this UPI-PIN to authorize all bank transactions.

Q12. ____________ is a one-stop payment platform for all bills providing an interoperable and accessible “Anytime Anywhere” bill payment service to all customers across India with certainty, reliability, and safety of transactions.
(a) BBPS
(b) NPCI
(c) AEPS
(d) NACH
(e) NFS

S12. Ans.(a)
Sol. The Bharat Bill Payment System is a Reserve Bank of India (RBI) conceptualised system driven by National Payments Corporation of India (NPCI). It is a one-stop payment platform for all bills providing an interoperable and accessible “Anytime Anywhere” bill payment service to all customers across India with certainty, reliability and safety of transactions.

Q13. In which year IMPS was launched by Smt. Shyamala Gopinath? 
(a) 2014
(b) 2006
(c) 2012
(d) 2008
(e) 2010

S13. Ans.(e)
Sol. Immediate Payment Service (IMPS) public launch happened on 22nd November 2010 by Smt. Shyamala Gopinath, DG RBI at Mumbai and this service is now available to the Indian public.

Q14. What is the meaning of "P" in BBPS?
(a) Plan
(b) Pending
(c) Payment
(d) Product
(e) Produce

S14. Ans.(c)
Sol. BBPS stands for Bharat Bill Payment System.

Q15. IMPS provides robust & real-time fund transfer which offers an instant, 24X7, interbank electronic fund transfer service that could be accessed on multiple channels. What is the full form of IMPS?
(a) Immediate Payment System 
(b) Immediate Payment Service
(c) Immediate Payment Solution
(d) Indian Payment Service 
(e) International Payment Service

S15. Ans.(b)

Sol. Immediate Payment Service (IMPS) public launch happened on 22nd November 2010 by Smt. Shyamala Gopinath, DG RBI at Mumbai and this service is now available to the Indian public.
Q1. In which year National Company Law Tribunal (NCLT) was set up-
(a) 2012
(b) 2013
(c) 2014
(d) 2015
(e) 2016

Show Answer
S1. Ans.(e)
Sol. The Central Government has constituted National Company Law Tribunal (NCLT) under section 408 of the Companies Act, 2013 (18 of 2013) w.e.f. 01st June 2016.

Q2. In the first phase of National Company Law Tribunal the Ministry of Corporate Affairs have set up eleven Benches, one Principal Bench. The Principal Bench is located in-
(a) Bengaluru
(b) Kolkata
(c) Mumbai
(d) New Delhi
(e) Chennai

Show Answer
S2. Ans.(d)
Sol. In the first phase of the National Company Law Tribunal, Ministry of Corporate Affairs have set up eleven Benches, one Principal Bench at New Delhi and ten Benches at New Delhi, Ahmadabad, Allahabad, Bengaluru, Chandigarh, Chennai, Guahati, Hyderabad, Kolkata and Mumbai. These Benches will be headed by the President and 16 Judicial Members and 09 Technical Members at different locations.

Q3. The NCLAT was constituted under Section 410 of the Companies Act, 2013. What is the meaning of "A" in NCALT?
(a) Agreement
(b) Association
(c) Appellate
(d) Agency
(e) Authority

Show Answer
S3. Ans.(c)
Sol. National Company Law Appellate Tribunal (NCLAT) was constituted under Section 410 of the Companies Act, 2013 for hearing appeals against the orders of National Company Law Tribunal(s) (NCLT), with effect from 1st June, 2016.

Q4. Who is the chairperson of NCLAT?
(a) Balvinder Singh
(b) Sudhansu Jyoti Mukhopadhaya
(c) Bansi Lal Bhat
(d) AIS Cheema
(e) M S Sundara Rajan

Show Answer
S4. Ans.(b)
Sol. Sudhansu Jyoti Mukhopadhaya is present chairperson of NCLAT.

Q5. Serious Fraud Investigation Office (SFIO) has been established and it has started functioning since-
(a) 1st October, 2003
(b) 1st October, 2004
(c) 1st October, 2007
(d) 1st October, 2012
(e) 1st October, 2015

Show Answer
S5. Ans.(a)
Sol. The Government in the backdrop of major failure of non-banking financial institutions, phenomenon of vanishing companies, plantation companies and the recent stock market scam had decided to set up Serious Fraud Investigation Office (SFIO), a multi-disciplinary organization to investigate corporate frauds. The Organization has been established and it has started functioning since 1st October, 2003.


Q6. The FRDI Bill is part of a larger, more comprehensive approach by the Centre towards systematic resolution of all financial firms. FRDI stands for- 
(a) Financial Resolution and Deposit India
(b) Financial Resolution and Deposit International
(c) Financial Resolution and Deposit Initial
(d) Financial Resolution and Deposit Increase
(e) Financial Resolution and Deposit Insurance  

Show Answer
S6. Ans.(e)
Sol. The FRDI Bill is part of a larger, more comprehensive approach by the Centre towards systematic resolution of all financial firms — banks, insurance companies and other financial intermediaries. The Bill comes together with the Insolvency and Bankruptcy Code to spell out the procedure for the winding up or revival of an ailing company. FRDI stands for Financial Resolution and Deposit Insurance.

Q7. LEI is a global reference number that uniquely identifies every legal entity or structure that is party to a financial transaction. What is the meaning of "I" in LEI?
(a) Insurer
(b) Indian
(c) Identifier
(d) Increase
(e) International

Show Answer
S7. Ans.(c)
Sol. The Legal Entity Identifier (LEI) is a global reference number that uniquely identifies every legal entity or structure that is party to a financial transaction. 

Q8. LEI India Limited is Wholly Owned Subsidiary of-
(a) Clearing Corporation of India Limited
(b) Bharatiya Reserve Bank Note Mudran Private Limited
(c) Small Industries Development Bank of India
(d) Securities and Exchange Board of India
(e) Reserve Bank of India

Show Answer
S8. Ans.(a)
Sol. Legal Entity Identifier India Limited (CIN- U74900MH2015PLC268921)– A Wholly Owned Subsidiary of The Clearing Corporation of India Ltd. acts as a Local Operating Unit (LOU) for issuing globally compatible Legal Entity Identifiers (LEIs) in India.

Q9. AEPS is a system that leverages Aadhaar online authentication and enables AEBAs to be operated in anytime-anywhere banking mode by the marginalized d financially excluded segments of society through microATMs. What is the meaning of "E" in AEPS?
(a) Equity
(b) Essential
(c) Electronic
(d) Enabled
(e) Enrolled

Show Answer
S9. Ans.(d)
Sol. Aadhaar Enabled Payment System (AEPS) – A system that leverages Aadhaar online authentication and enables AEBAs to be operated in anytime-anywhere banking mode by the marginalized d financially excluded segments of society through microATMs.

Q10. APB is a repository of Aadhaar number of residents and their primary bank account number used for receiving all social security and entitlement payments from various government agencies. What is the meaning of "B" in APB?
(a) Base
(b) Bridge
(c) Bond
(d) Banking
(e) Basel

Show Answer
S10. Ans.(b)
Sol. Aadhaar Payments Bridge or APB is a repository of Aadhaar number of residents and their primary bank account number used for receiving all social security and entitlement payments from various government agencies. It requires using Aadhaar number as the primary key for all entitlement payments. This would weed out all fakes and ghosts from the system and ensure that the benefits reach the intended beneficiaries..  

Q11. CBLO is a money market instrument that represents an obligation between a borrower and a lender as to the terms and conditions of a loan. What is the meaning of "B" in CBLO?
(a) Borrowing
(b) Balance
(c) Banking
(d) Basel
(e) Bond

Show Answer
S11. Ans.(a)
Sol. A collateralized borrowing and lending obligation (CBLO) is a money market instrument that represents an obligation between a borrower and a lender as to the terms and conditions of a loan.

Q12. MDR is a fee charged from a merchant by a bank for accepting payments from customers through credit and debit cards in their establishments. MDR stands for-
(a) Merchant Discount Ratio
(b) Merchant Discount Rate
(c) Merchant Discount Rating
(d) Merchant Development Rate
(e) Money Discount Rate

Show Answer
S12. Ans.(b)
Sol. MDR or Merchant Discount Rate is a fee charged from a merchant by a bank for accepting payments from customers through credit and debit cards in their establishments.

Q13. CRR is the amount of funds that the banks have to keep with the RBI. What is the full form of CRR?
(a) Cash Rate Ratio
(b) Cash Reserve Rate
(c) Cash Reserve Ratio
(d) Common Reserve Ratio
(e) Core Reserve Ratio 

Show Answer
S13. Ans.(c)
Sol. Cash reserve Ratio (CRR) is the amount of funds that the banks have to keep with the RBI. 

Q14. MSF rate refers to the rate at which the scheduled banks can borrow funds overnight from RBI against government securities. What is the meaning of "F" in MSF?
(a) Funded
(b) Financial
(c) Flow
(d) Facility
(e) Fund

Show Answer
S14. Ans.(d)
Sol. Marginal Standing Facility (MSF) rate refers to the rate at which the scheduled banks can borrow funds overnight from RBI against government securities.

Q15. ETFs are mutual funds listed and traded on stock exchanges like shares. ETFs stands for-
(a) Electronic Traded Funds
(b) Exchange Time Funds
(c) Exchange Traded Finance
(d) Exchange Traded Flows
(e) Exchange Traded Funds   

Show Answer
S15. Ans.(e)
Sol. Exchange Traded Funds (ETFs) are mutual funds listed and traded on stock exchanges like shares.
Q1. RBI, in consultation with the Government has hiked the foreign portfolio investors (FPI) investment limit in Central government securities (G-Sec) from 5% of outstanding stock now to _________ in FY2019 and _________ in FY2020.
(a) 5.5% and 6.5%
(b) 5.5% and 6.0%
(c) 6.0% and 6.5%
(d) 6.5% and 7.0%
(e) 7.5% and 7.0%

S1. Ans.(b)
Sol. In a move that could temporarily soften bond yields, the Reserve Bank of India, in consultation with the Government, hiked the foreign portfolio investors (FPI) investment limit in Central government securities (G-Sec) from 5% of outstanding stock now to 5.5% in FY2019 and 6% in FY2020.

Q2. Deutsche Bank AG named Christian Sewing as the Chief Executive officer of the Bank recently. Deutsche Bank based in-
(a) Brazil
(b) USA
(c) Singapore
(d) Canada
(e) Germany

S2. Ans.(e)
Sol. Deutsche Bank AG named Christian Sewing as the Chief Executive officer of the Bank. He has replaced John Cryan.

Q3. Which of the following Bank will be investing a total of Rs 80 billion in the Arun III hydropower project of Nepal, which has 900 megawatts (MW) electricity production capacities?
(a) Punjab National Bank
(b) Bank of Baroda
(c) State Bank of India
(d) ICICI Bank
(e) HDFC Bank

S3. Ans.(c)
Sol. The State Bank of India will be investing a total of Rs 80 billion in the Arun III hydropower project of Nepal, which has 900 megawatts (MW) electricity production capacities.

Q4. The SBI has announced the launch of its UK subsidiary, SBI (UK) Limited, with an initial capital commitment of __________ million pounds from its parent entity.
(a) 225 million pounds
(b) 400 million pounds
(c) 725 million pounds
(d) 1050 million pounds
(e) 100 million pounds

S4. Ans.(a)
Sol. The SBI has announced the launch of its UK subsidiary, SBI (UK) Limited, with an initial capital commitment of 225 million pounds from its parent entity. India's largest state-owned bank, which celebrated the new subsidiary with a special event in London, becomes the first foreign bank in the UK to ringfence its retail division from its wholesale business.

Q5. Jammu and Kashmir Bank has launched a special financing scheme named 'Add-on Working Capital GST' to help the state industry cope with the delay in reimbursement of GST under special tax relief. Who is the present Chairman and CEO of J&K Bank?
(a) Ajay Tyagi
(b) Mohammad Ansari
(c) HR Khan
(d) Parvez Ahmed
(e) Mohammad Mustafa

S5. Ans.(d)
Sol. Jammu and Kashmir Bank has launched a special financing scheme named 'Add-on Working Capital GST' to help the state industry cope with the delay in reimbursement of GST under special tax relief. The Chairman and CEO J&K Bank is Parvez Ahmed.

Q6. The World Bank has approved how much amount to expand the use of clean renewable energy in rural areas of Bangladesh where grid electricity cannot reach easily? 
(a) $50mn
(b) $215mn
(c) $100mn
(d) $55mn
(e) $10mn

S6. Ans.(d)
Sol. The World Bank has approved $55mn to expand the use of clean renewable energy in rural areas of Bangladesh where grid electricity cannot reach easily. The additional financing to the Second Rural Electrification and Renewable Energy Development (RERED II) Project will install 1,000 solar irrigation pumps, 30 solar mini-grids and about 4mn improved cooking stoves in rural areas.

Q7. The Reserve Bank of India has tightened reporting norms for the LRS under which an individual can transfer up to USD 2,50,000 abroad in a year. What is the full form of LSR?
(a) Liberalised Remittance Scheme
(b) Liberalised Remittance Service
(c) Liberalised Remittance System
(d) Legel Remittance Scheme
(e) Liberalised Revision Scheme

S7. Ans.(a)
Sol. The Reserve Bank of India tightened reporting norms for the Liberalised Remittance Scheme (LRS) under which an individual can transfer up to USD 2,50,000 abroad in a year. The LRS transactions are currently permitted by banks based on the declaration made by the remitter.

Q8. National E-Repository Limited (NERL), a group company of National Commodity and Derivatives Exchange Limited (NCDEX ), has brought in __________ and ________________ on board as the depository participants for pledge finance.
(a) Federal Bank and HDFC Bank
(b) State Bank OF India and HDFC Bank
(c) ICICI Bank and Kotak Mahindra Bank
(d) ICICI Bank and Axis Bank
(e) ICICI Bank and HDFC Bank

S8. Ans.(e)
Sol. National E-Repository Limited (NERL), a group company of National Commodity and Derivatives Exchange Limited (NCDEX ), has brought in ICICI Bank and HDFC Bank on board as the repository participants for pledge finance.

Q9. Which Bank has launched new products such as pre-approved credit card and UPI solution to mark its 124th foundation day on 12th April 2018?
(a) Bank of Baroda
(b) Punjab National Bank
(c) Allahabad Bank
(d) State Bank of India
(e) ICICI Bank

S9. Ans.(b)
Sol. State-run Punjab National Bank (PNB) launched new products such as pre-approved credit card and UPI solution to mark its 124th foundation day. The PNB has opened for business on 12th April 1895.

Q10. Which Bank was beaten India’s largest lender State Bank of India (SBI) for the first time to become the second most valued bank in the country recently. 
(a) ICICI Bank
(b) Axis Bank
(c) Kotak Mahindra Bank
(d) HDFC Bank
(e) Federal Bank

S10. Ans.(c)
Sol. Shares of private lender Kotak Mahindra Bank Ltd beat India’s largest lender State Bank of India (SBI) for the first time to become the second most valued bank in the country. Data from BSE showed that Kotak Mahindra Bank has a market capitalization of Rs2,22,560.69 crore after its shares rose 1.7%. SBI market capitalization stood at Rs2,22,043.74 crore. Its shares were trading at Rs248.80 on BSE, down 1% from its previous close. HDFC Bank Ltd remained country’s most valuable bank with a market capitalization of Rs5.04 trillion.

Q11. Yes Bank has announced the launch of ‘Yes GST’, an OD (over draft) facility for-
(a) SME
(b) MSME
(c) BPL People
(d) Farmers
(e) Scheduled Commercial Banks

S11. Ans.(b)

Sol. Yes Bank has announced the launch of ‘Yes GST’, an OD (over draft) facility for Micro, Small and Medium Enterprises (MSMEs). Through this, an MSME can avail OD up to Rs 1 crore, based on their annual turnover, backed by GST returns.

Q12. Bandhan Bank Limited became one of the top 50 most valuable publicly traded firms in India. Where is the Headquarters of Bandhan Bank?
(a) Mumbai
(b) Chennai
(c) Varanasi
(d) Jaipur
(e) Kolkata

S12. Ans.(e)
Sol. Kolkata-based Bandhan Bank Ltd became one of the top 50 most valuable publicly traded firms in India. The market capitalization of Bandhan Bank was at Rs64,000 crore, claiming 50th rank, according to BSE data.

Q13. NABARD has extended total credit support of Rs 14,690 crore to ______________ for 2017-18.
(a) Rajasthan
(b) Himachal Pradesh
(c) West Bengal
(d) Maharashtra
(e) Meghalaya

S13. Ans.(a)
Sol. National Bank for Agriculture and Rural Development (NABARD) has extended total credit support of Rs 14,690 crore to Rajasthan for 2017-18.

Q14. Name the Bank, which has come up with an alternate and convenient method of cash withdrawal for its customers and that Bank is now providing facilities of cash through ‘Cash@POS’ initiative?
(a) HDFC Bank
(b) Bank of Baroda
(c) ICICI Bank
(d) State Bank of India
(e) Axis Bank

S14. Ans.(d)
Sol. Amid the ongoing difficulties of cash crunch being faced in various states of India, the country’s biggest lender, State Bank of India (SBI) has come up with an alternate and convenient method of cash withdrawal for its customers. The bank is now providing facilities of cash through ‘Cash@POS’ initiative.

Q15. According to the TRA Brand Trust Report 2018, the State Bank of India was the most-trusted bank (both public and private sector) in the country and ______________ topped the chart among the private ones.
(a) Kotak Mahindra Bank
(b) Axis Bank
(c) ICICI Bank
(d) HDFC Bank
(e) Yes Bank

S15. Ans.(c)
Sol. According to the TRA Brand Trust Report 2018, the State Bank of India was the most-trusted bank (both public and private sector) in the country and ICICI Bank topped the chart among the private ones.  This year, State Bank of India tops the chart of BFSI (Banking and Financial Services Institutions) super-category despite seeing a dip in its overall brand trust index ranking.
Q1. Asian Development Bank has projected that India’s economic growth is set to rise to _________ this fiscal and further to ___________ in the next financial year, on back of GST and banking reforms recently. 
(a) 7.7% and 7.9%
(b) 7.3% and 7.6%
(c) 7.4% and 7.7%
(d) 7.2% and 7.4%
(e) 7.1% and 7.5%

S1. Ans.(b)
Sol. In April 2018, the Asian Development Bank (ADB) has projected that India’s economic growth is set to rise to 7.3% this fiscal and further to 7.6% in the next financial year, on back of GST and banking reforms.

Q2. How much amount has been raised the authorised capital of NABARD by Union government to help it increase its lending to the rural economy recently?
(a) Rs 600 billion
(b) Rs 900 billion
(c) Rs 100 billion
(d) Rs 300 billion
(e) Rs 1500 billion

S2. Ans.(d)
Sol. As part of the drive to double the income of farmers by 2022, the government has raised the authorised capital of NABARD by six times from 50 billion to Rs 300 billion to help it increase its lending to the rural economy.

Q3. CII has announced that it expects India's gross domestic product (GDP) to grow at 7.3-7.7% during the 2018-19 financial year. CII stands for-
(a) Confederation of Indian Industry
(b) Corporation of Indian Industry
(c) Confederation of International Industry
(d) Confederation of Indian Institute
(e) Classification of Indian Industry

S3. Ans.(a)
Sol. The Confederation of Indian Industry (CII) has announced that it expects India's gross domestic product (GDP) to grow at 7.3-7.7% during the 2018-19 financial year.

Q4. The International Monetary Fund (IMF) has stated that India is expected to grow at _________ in 2018 and __________ in 2019 and would re-emerge as one of the fastest growing major economies in the period.
(a) 7.8% and 7.9%
(b) 7.1% and 7.5%
(c) 7.4% and 7.7%
(d) 7.2% and 7.4%
(e) 7.4% and 7.8%

S4. Ans.(e)
Sol. The International Monetary Fund (IMF) has stated that India is expected to grow at 7.4% in 2018 and 7.8% in 2019 and would re-emerge as one of the fastest growing major economies in the period.

Q5. Which of the following country is now the world’s sixth largest economy, according to the database of the International Monetary Fund’s World Economic Outlook (WEO) for April 2018?
(a) Germany
(b) Japan
(c) India
(d) China
(e) France

S5. Ans.(c)
Sol. India’s Gross Domestic Product (GDP), the worth of the economy, clocked in at $2.6 trillion for 2017, according to the database of the International Monetary Fund’s World Economic Outlook (WEO) for April 2018. India is now the world’s sixth largest economy, displacing France. The Top 5 economies of the world are:
1. The United States,
2. China,
3. Japan,
4. Germany and
5. The United Kingdom

Q6. National Stock Exchange of India (NSE) has announced the launch of its "e - Gsec" platform for facilitating the non-competitive bidding in Government of India Dated Securities (G-Sec) and Treasury Bills (T-Bills). Where is the Corporate Office of NSE?
(a) New Delhi
(b) Mumbai
(c) Pune
(d) Kolkata
(e) Chennai

S6. Ans.(b)
Sol. National Stock Exchange of India (NSE) has announced the launch of its "e - Gsec" platform for facilitating the non-competitive bidding in Government of India Dated Securities (G-Sec) and Treasury Bills (T-Bills). Mumbai is the  Corporate Office of NSE.

Q7. Private sector lender ____________ has received the Reserve Bank of India’s (RBI) approval to open two representative offices in London and Singapore recently.
(a) HDFC Bank
(b) Axis Bank
(c) Bandhan Bank
(d) ICICI Bank
(e) Yes Bank

S7. Ans.(e)
Sol. Private sector lender Yes Bank has received the Reserve Bank of India’s (RBI) approval to open two representative offices in London and Singapore. Yes Bank opened its first representative office in Abu Dhabi in April 2015 and also launched IFSC banking unit (IBU) at GIFT City, Gandhinagar, in the same year.

Q8. The Reserve Bank of India has revised the KYC guidelines recently. What is the full form of KYC?
(a) Know Young Customer
(b) Know Your Consumer
(c) Know Your Customer
(d) Know Your Custom
(e) Know Yes Customer

S8. Ans.(c)
Sol. The Reserve Bank of India has revised "Know Your Customer" or the KYC guidelines. The KYC norms have been revised following the government's decision to update the 'Prevention of Money Laundering' rules in June 2017. The RBI made linking of national biometric ID Aadhaar to bank accounts mandatory. However, it said this will be subject to the final decision of the Supreme Court on making of Aadhaar mandatory.

Q9. Which among the following bank has entered into an agreement for information utility services with the National E-Governance Services Limited (NeSL)? 
(a) Indian Overseas Bank
(b) ICICI Bank
(c) State Bank of India
(d) Yes Bank
(e) Bank of Baroda

S9. Ans.(a)
Sol. Indian Overseas Bank (IOB) has entered into an agreement for information utility services with the National E-Governance Services Limited (NeSL). With this agreement, the IOB branches will be able to provide high-quality, authenticated information about debts and defaults; which will have more transparency in maintaining the list of borrowers, debtors, creditors and loan defaulters.

Q10. Who has been appointed as the Chairman of the National Association of Software and Services Companies (NASSCOM) for 2018-19? 
(a) PP Malhotra
(b) Raman Roy
(c) Dilip Chenoy
(d) Rishad Premji
(e) Balram Bhargava

S10. Ans.(d)
Sol. Rishad Premji, Board member of Wipro Ltd. has been appointed as the Chairman of the National Association of Software and Services Companies (NASSCOM) for 2018-19. Premji has been a member of NASSCOM’s Executive Council and was the Vice Chairman for 2017.
Q1. The Dow Jones Industrial Average, or simply the Dow, is a stock market index based in-
(a) Germany
(b) Japan
(c) USA
(d) China
(e) Brazil

S1. Ans.(c)
Sol. The Dow Jones Industrial Average, or simply the Dow, is a stock market index that shows how 30 large, publicly owned companies based in the United States have traded during a standard trading session in the stock market.

Q2. The Nikkei index belongs to which of the following stock exchanges?
(a) Tokyo
(b) Beijing
(c) New York
(d) Bangkok
(e) London

S2. Ans.(a)
Sol. Nikkei 225 is an index which belongs to the Tokyo Stock Exchange (TSE). The Nihon Keizai Shimbun (Nikkei) calculates the index daily since 1950.

Q3. The Hang Seng Index is a freefloat-adjusted market capitalization-weighted stock market index in-
(a) Japan
(b) Thailand
(c) China
(d) Hong Kong
(e) Singapore

S3. Ans.(d)
Sol. The Hang Seng Index is a freefloat-adjusted market capitalization-weighted stock market index in Hong Kong.

Q4. The DAX is a blue-chip stock market index. DAX index belongs to which of the following stock exchanges?
(a) France
(b) Germany
(c) Canada
(d) Brazil
(e) Japan

S4. Ans.(b)
Sol. The DAX is a blue chip stock market index consisting of the 30 major German companies trading on the Frankfurt Stock Exchange. Prices are taken from the Xetra trading venue.

Q5. The FTSE Straits Times Index (STI) is a capitalization-weighted stock market index that is regarded as the benchmark index for the ____________ stock market.
(a) Australia
(b) South Africa
(c) Canada
(d) Thailand
(e) Singapore

S5. Ans.(e)
Sol. The FTSE Straits Times Index (STI) is a capitalization-weighted stock market index that is regarded as the benchmark index for the Singapore stock market.

Q6. KOSPI is the index of all common stocks traded on the Stock Market Division in- 
(a) Canada
(b) South Korea
(c) Brazil
(d) China
(e) Singapore

S6. Ans.(b)
Sol. KOSPI is the index of all common stocks traded on the Stock Market Division in South Korea.

Q7. The Associated Chambers of Commerce and Industry of India or ASSOCHAM is one of the apex trade associations of India. Where is the Corporate Office of ASSOCHAM?
(a) Kolkata
(b) Chennai
(c) Pune
(d) New Delhi
(e) Mumbai

S7. Ans.(d)
Sol. The Associated Chambers of Commerce and Industry of India or ASSOCHAM is one of the apex trade associations of India. The organization represents the interests of trade and commerce in India and acts as an interface be issues and initiatives. The Corporate Office of ASSOCHAM is in New Delhi.

Q8. The BIS is an international financial institution owned by central banks which "fosters international monetary and financial cooperation and serves as a bank for central banks". What is the full form of BIS?
(a) Bank for International Settlements
(b) Bank for Indian Settlements
(c) Bank for Institution Settlements
(d) Bank for International System
(e) Bank for International Service

S8. Ans.(a)
Sol. The Bank for International Settlements (BIS) is an international financial institution owned by central banks which "fosters international monetary and financial cooperation and serves as a bank for central banks".

Q9. Where is the head office of BIS?
(a) Bern
(b) Nyon
(c) Davos
(d) Geneva
(e) Basel

S9. Ans.(e)
Sol. The Head office of Bank for International Settlements (BIS) is in Basel, Switzerland.

Q10. In which year BIS was established?
(a) 1935
(b) 1921
(c) 1930
(d) 1944
(e) 1949

S10. Ans.(c)
Sol. Established in 1930, the BIS is owned by 60 central banks, representing countries from around the world that together account for about 95% of world GDP. Its head office is in Basel, Switzerland and it has two representative offices: in Hong Kong SAR and in Mexico City.

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