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Banking related general awareness -- June 2013

1.         Consider the following statements with respect to inclusion of LPG subsidy in the Direct Benefit Transfer (DBT) scheme and choose the incurred statements(s):
            a) The government has decided to roll out the DBT on LPG cylinders in a phased manner.
            b) Domestic LPG consumers will get about Rs.4,000 per annum in cash from the government
            c) Currently, each consumer is entitled to get 6 cylinders of 14.2 kg each at a subsidized price of Rs.410.50.
            d) All the above              e) None of these
2.         Consider the following statements in connection with new and renewable energy in India.
            A) The Government of India, under its Integrated Energy Policy, is aiming at capacity addition of 30 thousand megawatt of power from various renewable energy sources during the 12th Plan period.
            B) The Ministry of New and Renewable Energy is currently implementing the Jawaharlal Nehru National Solar Mission with a target to add 20 thousand megawatts of solar power by 2022.
            C) The government has made such provisions that only indigenously developed equipment are used for the sake of capacity expansion.
            Which of the above statement(s) is/are correct?
            a) Only A          b) Only B          c) Only C          d) Only A and B            
e) All A, B and C
3.         Consider the following statements with respect to Commercial Paper (CP):
            A) It is an unsecured money market instrument issued in the form of a promissory note.
            B) It was introduced in India in 1990 with a view to enabling high - rate corporate borrowers to diversify their sources of short-term borrowings and to provide an additional instrument to investors.
            C) All the Corporate, Primary Dealers (PDs) and the All - India Financial Institutions (FIs) are eligible to issue CP unconditionally.
            Which of the above statements is/are correct?
            a) Only A          b) Only B          c) Only C          d) Only A and B            
e) Only A and C
4.         Which of the following statement is/are NOT correct?
            a) Interest on term deposits is payable at quarterly or longer rests.
            b) Banks cannot accept interest - free deposits for current accounts.
            c) Banks are free to determine their savings bank deposit interest rate, subject to a few conditions.
            d) With effect from April 1, 2010, payment of interest on savings bank accounts by scheduled commercial banks would be calculated on a daily product basis.
            e) All the above statements are correct.
5.         In the ongoing International Shooting Sport Federation (ISSF), Shooting World Cup, Rahi Sarnobat became the first pistol shooter from India to win a World Cup gold medal in ___ category.
            a) 10-metre pistol           b) 20-metre pistol           c) 25-metre pistol
            d) 30-metre pistol           e) None of these
6.         According to the reports doing rounds in the media, India will offer about 68 blocks for exploration of oil and gas under the NELP. What is the full form of NELP?
            a) National Exclusive Licensing Policy
            b) National Exploration Licensing Policy   c) National Exploration Liaisoning Policy
            d) National Expertise Licensing Policy     e) None of these
7.         The government has sanctioned Rs.4065.81 crore for pollution abatement schemes for rivers and lakes in various states. Which of the following states has received the larges chunk of this amount?
            a) Delhi             b) Uttar Pradesh            c) Madhya Pradesh
            d) West Bengal e) None of these
8.         The loans to individuals for educational purposes, including vocational courses, upto Rs.10 lakhs for studies in India and __________ for studies abroad are included under priority sector.
            a) Rs.20 lakh     b) Rs.25 lakh     c) Rs.30 lakh     d) Rs.35 lakh     e) None of these
9.         In order to encourage farmers to step up investment in jute cultivation and thereby increase production of jute in the country, the Government has approved an increase in the minimum support price (MSP) of jute by _______ to Rs.2,300 per quintal for 2013-14.
            a) Rs.100          b) Rs.200          c) Rs.250          d) Rs.300          e) None of these
10.        The government has constituted three new High Courts in which of the following states, taking the total number of High Courts in the country to 24?
            a) Meghalaya, Manipur and Tripura          b) Nagaland, Manipur and Tripura
            c) Nagaland, Meghalaya and Manipur      d) Meghalaya, Nagaland and Tripura
            e) None of these
11.        Consider the following statements with respect to the RBI’s decision to allow Urban Co-operative Banks (UCBs) to grant unsecured loans up to 25 per cent of their assets if certain conditions are met:
            A) It can be done with the prior approval of the Reserve Bank of India.
            B) Banks need to assure that all loans be sanctioned as small-value loans of up to Rs.2,00,000 in a single amount.
            C) To avail the above facility, banks should have assessed CRAR (Capital to Risk Assets Ratio) of 9 per cent and gross NPAs at less than 10 per cent of gross advances.
            Which of the above statement(s) is/are correct?
            a) Only A          b) Only B          c) Only C          d) Only A and C
e) Only B and C
12.        Which of the following countries has recently ended the decades - long state monopoly on daily newspapers?
            a) China            b) Bangladesh               c) Sri Lanka       d) Myanmar
            e) None of these
13.        Examine the following statements with respect to Nitaqat (naturalization) law brought out by Saudi Arabia, which is feared to adversely affect India expatriates employed there:
            A) The Nitaqat law mandates to reserve 10 per cent jobs for the locals and give them a minimum of 3000 Riyals (one Riyal is equal Rs.14.50) a month as salary.
            B) If an entry in this regard is made in the passports of the deported India workers, they could not find job in any other country.
            C) The enforcement of the Nitaqat law has been deferred by three months by the Saudi government.
            Which of the above statement(s) is/are NOT correct?
            a) Only A          b) Only B          c) Only C          d) Only A and C            
e) None of the above
14.        The nuclear - capable surface-to-surface Intermediate Range Ballistic Missile (IRBM), Agni-II, was successfully test-fired by the Strategic Forces Command (SFC) of the Army from the Wheeler Island. The Wheeler Island is situated in which of the following states?
            a) Tamil Nadu    b) Andhra Pradesh         c) Odisha          d) Karnataka
            e) None of these
15.        In which of the following states, over five lakh government employees went on mass leave recently pressing for their 51-point demands, including hike in grade pay, payment of arrears, regularization of daily-wage employees, and fixed - career promotion plan apart from others?
            a) Bihar             b) Madhya Pradesh        c) Uttar Pradesh            d) Tamil Nadu
            e) None of these
16.        The ‘Gojjri’ language is spoken in which of the following states? The concerned state government recently demanded that the language should be included in the English Schedule of the Constitution.
            a) Gujarat          b) Jammu and Kashmir               c) Rajasthan
            d) Haryana        e) None of these
17.        Which of the following public sector banks announced recently that its Risk Management Department has received ISO 27001 certification from the British Standards Institute (BIS)? It is the first among Indian banks to receive such certification.
            a) Indian Bank   b) Bank of Baroda          c) Vijaya Bank   d) Canara Bank
            e) Union Bank of India
18.        Consider the following categories:
            A) Agriculture                B) Micro and Small Enterprises   C) Housing
            D) Export Credit
            Which of the above categories is/are included in the priority sector?
            a) Only A          b) Only A and B             c) Only A and D             d) Only A, C and D
            e) All A, B, C and D
19.        In which of the following sectors is Foreign Direct Investment (FDI) not allowed in India?
            a) Atomic Energy                                               b) Gambling and Betting
            c) Trading in Transferable Development Rights (TDRs)
            d) All the above                                      e) Only a and c
20.        The Beijing Institute of Technology, a government - run research university known for its work on China’s space programme, recently signed a first - of - its - kind Memorandum of Understanding (MoU) with which of the following Indian universities, paving the way for closer collaboration on joint - research projects?
            a) Manipal University      b) Annamalai University c) Jawaharlal Nehru University
            d) Azim Premji University            e) Indira Gandhi National Open University.
21.        The Union Cabinet has approved the decontrol of sugar sector with certain riders recently, providing flexibility to sugar mills to sell products in open market. Earlier, sugar mills were bound to sell what per cent of their annual produce to the government at cheap rates for sale through ration shops?
            a) 10 per cent                b) 12 per cent                c) 15 per cent   
            d) 20 per cent                e) 50 per cent
22.        Which of the following statements is/are correct with respect to the former British Primer Minister Margaret Thatcher, who died recently?
            A) She was the first woman to become British prime minister and was called ‘Iron lady’ for her personal and political toughness.
            B) She belonged to the Labour Party of the United Kingdom and served as the Prime Minister of the country from 1979 to 1990.
            C) The first volume of her soon-to-be published biography titled Not for Turning have been complied by Charles Moore.
            a) Only A          b) Only B          c) Only C          d) Only A and C
            e) Only B and C
23.        The World Boxing Council (WBC) proclaimed which of the following former presidents of South Africa as “King of Human Equality”? He was an amateur boxer in his youth and was honoured on the eve of celebrations of the 50th anniversary of the Mexico-based WBC.
            a) Kgalema Motlanthe                b) Thabo Mvuyelwa Mbeki          
            c) Jacob Zuma                           d) Nelson Mandela         e) None of these
24.        Consider the following dams being built by China:
            A) Jiexu            B) Zangmu        C) Jiacha
            Which of the above dams, being built by China on Brahmaputra river, has / have become cause of concern for India?
            a) Only A          b) Only B          c) Only C          d) Only A and C            
            e) All A, B and C
25.        Consider the following statements with respect to Deposit Insurance and Credit Guarantee Corporation (DICGC) and choose the correct sentence(s).
            A) Deposits with all commercial banks including branches of foreign banks functioning in India, local area banks and regional rural banks are insured by the DICGC.
            B) The DICGC insures all deposit such as savings, fixed, current, recurring, etc. except a few other types of deposits.
            C) In case a depositor has deposits with more than one banks, deposit insurance coverage is applied on only one of them.
            a) Only A          b) Only B          c) Only C          d) Only A and B            
            e) Only A and C
26.        Which of the following statements is/are NOT correct with respect to the Banking Ombudsman scheme implemented in India?
            a) This Scheme was introduced under Section 35A of the Banking Regulation Act, 1949 by RBI with effect from 1995.
            b) The Banking Ombudsman is a senior official appointed by the RBI to redress customer complaints against deficiency in certain banking services.
            c) All Scheduled Commercial Banks, Regional Rural Banks and Scheduled Primary Co-Operative Banks are covered under the Scheme.
            d) All the above              e) None of the above
27.        Which of the following companies has topped the Brand Trust Report, India Study - 2013 (BTR 2013) conducted among India’s 1100 Most Trusted Brands from 211 categories?
            a) Sony             b) Samsung       c) Nokia            d) Tata              e) Airtel
28.        Who among the following has won the final of the 12th Asian billiards championship 2013 recently?
            a) K Venkatesham         b) Rupesh Shah             c) Pankaj Advani
            d) Alok Kumar               e) B Bhaskar
29.        Who among the following has written the book titled The City of Devi?
            a) Vikas Swarup            b) Anand Neelakantan                c) Rashmi Bansal
            d) Mani Suri                   e) None of these
30.        The Asian Clearing Union (ACU), headquartered at Tehran, was established at the initiative of the United Nations Economic and Social Commission for Asia and Pacific (ESCAP) for promoting regional co-operation. Which of the following countries is not a member of ACU presently?
            a) Afghanistan               b) Bhutan          c) India              d) Maldives
            e) Pakistan
31.        In which of the following national parks was the four day long test flight of unmanned solar-powered aerial surveillance was conducted recently for the first time in the country’s wildlife history, under the supervision of, National Tiger Conservation Authority, Wildlife Institute of India and World Wildlife Fund?
            a) Keoladeo National Park          b) Kaziranga National Park
            c) Betla National Park                d) Jim Corbett National Park      
e) Periyar National Park
32.        Which of the following statements is/are correct about Non-Resident (Ordinary) Rupees (NRO) account which can be opened by a foreign tourist during his/her visit to India?
            a) Such accounts (Savings/Current) can be opened with any authorized dealer bank dealing in foreign exchange.
            b) Such accounts can be opened up for a maximum period of six months.
            c) Funds remitted from outside India through banking channel or those obtained by sale of foreign exchange brought by the tourists to India can be credited to the NRO account.
            d) The balance left in the account cannot be converted into foreign currency to be carried with by the tourists at the time of departure from India.
            e) All payments exceeding INR 50,000 can be made only by means of cheques / pay orders/demand drafts from such accounts.
33.        In the context of socio-economic development, the concept of “meeting the needs of the present without compromising the ability of future generation to meet their needs” is popularly termed as which of the following?
            a) Financial inclusion      b) Sustainable development
            c) Uniform growth           d) Social welfare            e) None of these
34.        The book titled The Last War has been written by who among the following?
            a) Sandipan Deb            b) C Raja Mohan            c) Sudeep Sen
            d) Sathya Saran             e) None of these
35.        Which of the following statements is correct? Once a draft has been issued
            a) the purchaser has no right to get it cancelled.
            b) the purchaser can cancel it only before passing it to the payee.
            c) the issuing branch can cancel it taking indemnity bond from purchaser.
            d) All the above              e) None of above
36.        The World Health Day is observed on which of the following dates?
            a) April 4           b) April 7           c) April 12         d) April 22         e) None of these
37.        As per the new guidelines issued by the RBI, which of the following categories will be given relaxation in KYC norms while opening bank account and borrowing from the banks?
            a) Marginal Farmers       b) Daily Labourers          c) Self Help Groups
            d) All the above e) None of the above
38.        Which of the following is/are essential features of a genuine currency note?
            a) The issuing authority’s name should be printed on it.
            b) The guarantee clause should be there c) The promise clause should be there                  d) All the above                          e) Only a and b
39.        While closing the business of the day, if excess cash is found at a branch of a bank
            a) It is distributed among the present employees
            b) It is deposited in the sundries account
            c) It claim is not received from any party within a reasonable period, say six months, it is credited to branch revenue.
            d) Both B and C             e) None of these
40.        Which of the following states has become the first state to introduce e-GPF facility? The Finance Department of the state has facilitated online access to 34,000 GPF accounts transparency and accountability?
            a) Gujarat          b) Arunachal Pradesh     c) Uttarakhand   d) Madhya Pradesh
            e) West Bengal
41.        Name the country which has announced to deprive 72 countries, including India, 1, 2015, stating that these count5ies no longer require preferential tariffs.
            a) France          b) Germany       c) Canada         d) Italy              e) Japan
42.        Banks keep notes/coins in Currency Chest on behalf of which of the following?
            a) Their own self             b) The Central Government          c) The RBI
            d) Their Head Office        e) None of these
43.        Deposits in a Public Provident Fund (PPF) account can be made how many times within a year?
            a) Three times               b) Six times       c) Nine times     d) Twelve times
            e) There is no limit for it
44.        After the Supreme Court ruled that Kerala had no jurisdiction to prosecute the two Italian marines involved in the killing of two Indian fishermen, the Home Ministry has taken the decision to hand over the probe to which of the following agencies?
            a) Central Bureau of Investigation             b) National Investigation Agency
            c) Intelligence Bureau                             d) Crime Branch of Delhi Police d
            e) None of these
45.        Which of the following section of the Indian patent law states that inventions that are a mere “discovery” of a “new form” of a known substance”; they do not result in increased efficacy of that substance are not patentable. This section made news recently when the Supreme Court upheld the rejection of patent plea by Novartis for its cancer drug Glivec.
            a) Section 3(k)   b) Section 3 (d)              c) Section 24(b)             d) Section 25(b)
            e) None of these
46.        What is the purpose behind introducing of the practice of quoting permanent Account Number (PAN) while opening an account with a bank?
            a) To ensure that bank accounts are opened by the customers by following proper procedures.
            b) To ensure that bank accounts provide information about tax revenue
            c) To ensure that more people are brought under tax net and voluntary compliance of tax procedures
            d) All the above e) None of these
47.        Which of the following is/are responsible for the depletion of foreign exchange reserve of the country?
            a) Devaluation of rupee               b) Inadequate foreign exchange earnings
            c) Increasing imports                  d) Only a and b              e) only a, b and c
48.        The Indian Railways has announced that Self Propelled Accident Relief Train (SPART) units that can be rapidly deployed at accident sites will be in place at all _____ divisions of the Indian Railways across the country by 2016-17.
            a) 22                 b) 29                 c) 59                 d) 72                 e) None of these

49.  Who has been elected as Chairman of Indian Banks Association (IBA) for 2013-14?
a)  K. R.Kamath       b) S Ramadorai       c)   Radha Krishna Mathur  
d)  Amol Rajan         e)  none of these.

50.        Which of the following is correct about ‘Giffen Goods’?
            a) The quantity demanded of these goods goes up as the price increases.
            b) These goods are free gifts of Nature.
            c) These goods follow a normal demand schedule
            d) These are the goods which are gifted by a foreigner to a person of our country
            e) None of these


1.C       2.E       3.D       4.B       5.C       6.B       7.B       8.A       9.A       10.A

11.D     12.D     13.E     14.C     15.B     16.B     17.C     18.E     19.D     20.A

21.A     22.D     23.D     24.E     25.D     26.E     27.C     28.B     29.D     30.A

31.B     32.D     33.B     34.A     35.B     36.B     37.C     38.D     39.D     40.B

41.C     42.C     43.D     44.B     45.B     46.C     47.E     48.C     49.A     50.A


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