Monday, September 1, 2014

BANKING AWARENESS PRACTICE QUESTIONS FOR SBI PO EXAM 2014

1. Hawala transactions in India are prohibited under the provision of which of the following Acts?
a) FRBM Act b) FEMA
c) RBI Act
d) FATF Act
e) Banking Regulation Act

2. Advantages of Mutual Funds are:
a) The transaction cost is very low
b) Provides more security as compared to shares
c) The small amounts gathered will be invested in diversified sectors
d) Professional Management is provided through AMC
e) All of the above

3. Issuing credit cards falls under ___
a) Corporate banking
b) Rural banking
c) Retail banking
d) Micro finance
e) None of these

4. Banks are considered as 'financial intermediaries', which of the following activity correctly and comprehensively explains the role of banks?
a) Accepting deposits of money for the purpose of lending and investment
b) Granting loans to the weaker sections of the society
c) Accepting money for remittance and issuing bank drafts
d) Providing safe deposit services
e) Opening accounts and accepting deposits therein

5. Banks will come across different types of risks in their day to day activities. Which of the following is one such major risk?
a) Customer risk
b) Reputation
c) Goodwill risk
d) Protection risk
e) Operational risk

6. What does the letter 'R' denotes in the abbreviation 'BR Act' which controls banking activities
in the country?
a) Reformation
b) Regulation
c) Reporting
d) Resolution
e) Ranking

7. Which of the following a largest private sector bank in India in respect of Number of branches/ business?
a) AXIS Bank
b) HDFC Bank
c) ICICI Bank
d) Kotak Mahindra
e) None of these

8. When RBI increases CRR/ SLR it is said to be:
a) Tight money policy
b) Easy money policy
c) Open money policy
d) Closed money policy
e) None of these

9. What per cent of Net bank credit are "domestic commercial banks required lending to Agricultural" sector?
a) 12%
b) 18%
c) 15%
d) 40%
e) None of these

10. Which of the following banks was not nationalized in the first phase of Nationalization in the year 1969?
a) Punjab National Bank
b) Oriental Bank of Commerce
c) Bank of Baroda
d) Union Bank of India
e) None of these

11. A savings bank account opened with a commercial bank with zero balance or very minimum balance is known as:
a) Savings bank - ordinary account
b) Student savings bank account
c) No frill account
d) Current account
e) Safe deposit account

12. Personal Accident Insurance Scheme is available for KCC (Kisan Credit Card) holders. Who pay the insurance premium of Rs. 15?
a) Bank Will pay entire premium
b) KCC Holder will pay entire premium
c) Bank and KCC holder will share equally
d) Bank will pay Rs. 10/- and Rs 5/- will be debited to KCC holder's account
e) KCC Holder will pay Rs. 10/- and Bank will pay the balance of Rs. 5/-

13. Which of the following are correct regarding NABARD?
a) It manages Financial Inclusion Fund
b) It operates Rural Infrastructure Development Fund
c) Established on 12th July 1982
d) It is a Micro Finance Regulatory Authority
e) All of the above

14. A nationalized bank is also called by the following name:
a) Private Sector Bank
b) Self Help Group
c) Grameen bank
d) Public Sector Bank
e) None of these

15. Which of the following is incorrect?
a) EXÏM bank is established in the year 1982
b) SIDBI was established in the year 1990
c) National Housing Bank was Created in the year 1988
d) IRDA was established in the year 1980
e) BIFR was established in the year 1987

16. Who headed the committee on financial benchmarks set up by RBI?
a) Y Venugopal Reddy
b) C Rangarajan
c) Bimal Jalan
d) Vijay Kelkar
e) Vijaya Bhaskar

17. ____ is allowed by the Government of India to increase foreign shareholding from 49 per cent to 62 per cent recently.
a) HDFC
b) Axis Bank
c) YES Bank
d) ICICI bank
e) None of the above

18. Which of the following is/ are considered as a valid proof of address while opening an account
with a bank?
a) PAN card
b) Driving license
c) Electricity bill
d) Passport
e) b, c & d

19. The target for providing finance to Weaker Sections, under priority sector stipulated by RBI is ____
a) 10%
b) 18%
c) 32%
d) 40%
e) None of these

20. The need for CTS - 2010 (Cheque Truncation System) is introduced for the purpose of:
a) Attractive designing
b) Uniform in digits
c) Uniform security features
d) To speed up clearing of instruments to help customers
e) Both c and d

21. Who will guarantee cover to the loans given under CGTMSE?
a) IRDA
b) SEBI
c) NABARD
d) RBI
e) SIDBI & GOI

22. Where is the headquarters of the bank for International Settlements (BIS) located?
a) Hong Kong
b) Vienna
c) Mexico City
d) Basel
e) Antwerp

23. QCCP (Pertaining to payment and settlement section Act 2007) stands for:
a) Queried Central Counterparty
b) Qualifying Central Counterparty
c) Qualitative Central Counterparty
d) Quantitative Central Counterparty
e) None of these

24. A Banking Ombudsman can reject a complaint at any stage on which of the following grounds?
a) There is no loss or damage or inconvenience caused to the complaint in the option of the
Banking Ombudsman
b) The compensation sought from the banking Ombudsman is beyond Rs.10 lakh
c) The complaint is not pursued by the complaint with reasonable diligence
d) Any of the above
e) Only 1 and 3

25. In banking terminology difference between interest earned and interest paid is called as:
a) Margin
b) Interest Income
c) Spread
d) Both b & c
e) None of these

26. IBA at its meeting held on 20th August 2014 elected Mr./ Mrs. ___ as Chairman & Managing
Director of IBA for the year (term) 2014-15.
a) VR Iyer
b) HR Kamath
c) Arundhati Bhattacharya
d) TM Bhasin
e) MV Nair

27. SFMS, in banking parlance, stands for:
a) Scheme for Marginal and Small Farmers
b) Super Financial Message System
c) Systematic Financial Messaging System
d) Structured Financial Messaging System
e) None of the above

28. Call money market deals in short term finance repayable on demand with a maturity period varying from:
a) 1 to 30 days
b) 7 to 14 days
c) 14 to 30 days
d) 30 to 60 days
e) 1 to 14 days

29. Which of the following is not a "Money Market Instrument"?
a) Treasury Bills
b) Commercial Paper
c) Certificate of deposit
d) Equity Shares
e) None of these

30. At present Treasury bills are issued by Government of India through auctions with a maturity periods of:
a) 91 days, 182 days, 364 days
b) 20 days, 60 days, 180 days
c) 30 days, 60 days, 180 days
d) 60 days, 90 days, 180 days
e) 90 days, 180 days, 360 days

31. Which of the following organizations provides Credit Rating and Credit History (Information)
of the borrowers?
a) CRISIL, RBI
b) SEBI, IRDA
c) RBI, ICRA
d) IBA, SEBI
e) CRISIL, CIBIL

32. What is Money Laundering?
a) Conversion of assets into cash
b) Conversion of cash into gold
c) Conversion of illegally obtained money into white money
d) Conversion of gold into money
e) None of these

33. "Reinsurance" means:
a) Insuring twice for the same policy holder
b) This meant for only Bank Loan Borrowers
c) This is meant for Public Sector Employees
d) It is a insurance policy issued by IRDA
e) One insurance company insuring with another big and sound insurance company to manage its probable risks.

34. Apex Bank to take care of Agriculture Credit in India is:
a) NABARD
b) Co - operative bank
c) RBI
d) SBI
e) None

35. As per RBI order, against the certificate of Deposit, the ___
a) Loan cannot be granted
b) Loan can be granted
c) Loan can be granted up to 50% of value
d) Loan can be granted up to 75% of value
e) None

36. Which of the private sector lenders introduced its own card 'Kisan Card' through which a farmer can withdraw up to Rs. 1 lakh per day from ATMs?
a) HDFC
b) ICICI
c) Axis Bank
d) Federal Bank
e) Indus Ind bank

37. ___ % Net Bank Credit (NBC) to be given to priority sector lending by foreign banks as per the order of RBI?
a) 50
b) 40
c) 60
d) 12
e) 32

38. Which one of the following is not an authorized means of banking transactions for the people in India?
a) Mobile
b) Online
c) Phone
d) Visiting Individually
e) Video Conferencing

39. For violation of FEMA, prosecution is done by:
a) RBI
b) DGFT
c) FEDAI
d) Enforcement Directorate
e) None of these

40. Loans of very Small amount given to low income group is called?
a) Cash Credit
b) No Frill Credit
c) Rural Credit
d) Micro Credit
e) Simple over Draft

ANSWERS:
1. b; 2. e; 3. c; 4. a; 5. e; 6. b; 7. c; 8. a; 9. b; 10. b;
11. c; 12. d; 13. e; 14. d; 15. d; 16. e; 17. b; 18. e; 19. a; 20. e;
21. e; 22. d; 23. b; 24. d; 25. d; 26. d; 27. d; 28. e; 29. d; 30. a;
31. e; 32. c; 33. e; 34. a; 35. a; 36. c; 37. e; 38. e; 39. d; 40. d;

Sunday, August 31, 2014

GENERAL AWARENESS PRACTICE MCQs FOR SBI PO EXAM

1. The ultimate controller of rules of bank deposits is .........
1) SBI
2) Finance Secretary
3) Ministry of Finance
4) Controller of Deposits
5) RBI

2. Important two streams of bank deposits in India ........
1) Functional deposit and Demand deposit
2) Low demand deposit and Demand deposit
3) Term deposit and Flexi deposit
4) Term deposit and Demand deposit
5) None

3. In the term deposit, two important types of bank accounts are .........
1) Savings account and Fixed deposit
2) Fixed deposit and Current account
3) Savings deposit and Current account
4) Fixed deposit and Recurring deposit
5) None of above

4. The highlight of Term Deposit is ........
1) Deposit accepted for fixed term
2) Cumulative rate of interest option
3) No instinct to spend
4) Loan options available
5) All of above

5. Which among the following accounts fetch the highest rate of interest?
1) Savings deposits
2) Recurring deposits
3) Fixed deposits
4) Current account deposits
5) All of above

6. Which of the following option not available in fixed deposits?
1) Cheque facility
2) ATM card
3) Withdrawal form facility
4) Online fund transfer
5) All of above

7. Usually the banks in our country, declare the additional rate of interest to ....... on fixed
deposits.
1) Senior citizens
2) Political parties
3) Educated people
4) Government officials
5) Defaulter of loans

8. Whether joint account can be opened in the fixed deposit?
1) No
2) Yes, but one of the joint account holders must not be bank employee.
3) Yes
4) Yes, but the joint account holders must declare they are not having joint account in the different bank.
5) Yes, but the joint account holders must get permission from RBI.

9. Banks are not permitted to pay commission to employees/ firms/ organizations to mobilize deposits. However banks can pay commission to mobilize deposits to whom as per the present rules of RBI?
1) Non-Governmental Organisations (NGOs)
2) Self Help Groups (SHGs)
3) Micro Finance Institutions (MFIs)
4) Civil Society Organisations (CSOs)
5) All of above

10. Banks allow the prematurity of fixed deposits. Then they usually collect penal rate of interest on .......... for the premature withdrawal of fixed deposits.
1) Principal
2) Rate of interest
3) Minimum deposit amount
4) Maturity amount
5) All of above

11. On 24 January 2013, the RBI revised premature deposit rules of ..........
1) Small savings accounts
2) Small value fixed deposit accounts
3) Big size savings accounts
4) Dollar savings accounts
5) Large value fixed deposit accounts

12. The new rules of large value fixed deposit accounts include ..........
1) Bank can fix the differential interest rates on large size term deposits.
2) Here large value fixed deposit means above 1 crore.
3) For the large value fixed deposits banks should discourage the pre-mature withdrawals.
4) 1 & 2 only
5) All of above

13. Fixed deposits can have ...........
1) Nomination facility
2) Nomination facility with the
permission of Bank Chairman
3) Nomination facility by taking special permission from bank
4) Nomination facility on the day of closing
5) Nomination facility with the permission of person who introduced him to open
account

14. Some time banks offer special term deposits with Lock-in-period. Lock-in-period means .......
1) Locker provided under this deposit
2) Locker facility denied
3) During this period, the deposit holder cannot open another account
4) During this period, banks do not allow the prematurity
5) None of above

15. In the tax saver fixed deposit accounts, the deposit holder saving which tax?
1) Sales Tax
2) VAT
3) Excise Duty
4) Income Tax
5) Property Tax

16. Whether a customer can opt premature of his fixed deposit and deposit the same amount in Savings Account?
1) No, because one cannot cancel the fixed deposit and move the same amount into savings account
2) Yes, but he has to penalty for pre maturity of deposit and also pay penalty to deposit in savings account
3) Yes, as he is free to use that amount in any way
4) No, as one cannot do both fixed deposit and savings deposit transactions in a day
5) None of above

17. A deposit account which enables a depositor particularly in fixed income group to save by paying into the account an agreed fixed sum of money monthly over a stipulated period is called .........
1) Recurring Deposit
2) Fixed Deposit
3) Minor Account
4) Savings Account
5) Corporate Account

18. NBFC (Non-Banking Finance Company) allowed to accept / renew public deposits for a minimum period of 12 months and maximum period of .........
1) 10 months
2) 20 months
3) 30 months
4) 60 months
5) 80 months

19. NBFCs cannot offer interest rates higher than the ceiling rate prescribed by RBI from time to time. As per the present rules, the present ceiling is .........
1) 7.5 percent per annum
2) 10.5 percent per annum
3) 24.0 percent per annum
4) 12.5 percent per annum
5) 16.5 percent per annum

20. On 21 August 2014, RBI in its annual report said that its surplus (profit ) for the financial year 2013-14 come down to ......... percent to Rs.52,679 crore as its interest income from investments in foreign sovereign bonds declined.
1) 12.25%
2) 7.5%
3) 18.5%
4) 20.5%
5) 14.75%

21. On 18 July 2014, Reserve Bank of India (RBI) has allowed raising foreign investment limit
under portfolio investment in Kotak Mahindra Bank to .........
1) 74%
2) 51%
3) 70%
4) 100%
5) 40%

22. Nick Clegg and Arun Jaitley discussed various matters of mutual interest, including the retrospective tax amendment issue on 25 August 2014. Nick Clegg is the .........
1) Vice - president of USA
2) President of France
3) Director General, WTO
4) UK Deputy Prime Minister
5) None

23. A scientific way of measuring, monitoring and managing the various risks that banks or financial institutions are exposed during the course of their operations is called ........
1) Asset Liability Management
2) Public Rating
3) Asset Securitisation
4) Asset Classification
5) Liability Classification

24. CONCOR was granted the Navarathna status on 23 July 2014 by the Department of Public Enterprises under Union Ministry of Heavy Industries and Public Enterprises. CONCOR stands for ..........
1) Charcoal Corporation of India Limited
2) Coal Corporation of India Limited
3) Container Corporation of India Limited
4) Cement Corporation of India Limited
5) None

25. Who is the minister for Ministry of Heavy Industries and Public Enterprises?
1) Ananth Kumar
2) Narendra Singh Tomar
3) Anant Geete
4) Jual Oram
5) None

26. CONCOR was incorporated in March 1988, commenced the operations from .........
1) 1991
2) 1992
3) 1989
4) 2000
5) None

27. Present Chairman and MD of CONCOR?
1) Anil Kumar Gupta
2) Rajiv Rudi
3) V. Verma
4) Cyrus Mystry
5) None of above

28. CONCOR registered office located at .........
1) Hyderabad
2) Pune
3) New Delhi
4) Bangalore
5) None

29. SEBI issued draft regulations for infrastructure investment trusts. As per it the trusts can raise money either through a public issue or a private placement, with a minimum issue size of .........
1) Rs.50 crore
2) Rs.100 crore
3) Rs.300 crore
4) Rs. 250 crore
5) None

30. On 15 July, 2014 SEBI barred B Ramalinga Raju, the founder of Satyam Computers
from accessing the capital markets for ........
1) 10 years
2) 18 years
3) 7 years
4) 5 years
5) 14 years

31. Who was appointed as Chairman of Public Accounts Committee (PAC) on 20 August
2014?
1) Mallikarjun Kharge
2) Rahul Gandhi
3) K.V. Thomas
4) Thambidurai
5) None

32. New Chairman of Central Board of Direct Taxes (CBDT) is .........
1) Rana Kapoor
2) Sidharth Birla
3) Ajay S. Shriram
4) K V Chowdary
5) R Chandrasekaran

33. Granville Austin recently died. He is a .........
1) Famous biologist
2) Notable Indian Constitution expert
3) Nobel laureate
4) Cosmologist
5) None

34. 'The Indian Constitution: Cornerstone of a Nation' written by .........
1) F. Nariman
2) R.M. Lodha
3) Ram Jethmalani
4) Markandey Katju
5) Granville Austin

35. World-renowned yoga guru Bellur Krishnamachar Sundararaja Iyengar died on 20 August 2014. He born in .........
1) Tamilnadu
2) AP
3) Karnataka
4) Bihar
5) Rajasthan

ANSWERS:
1-5, 2-4, 3-4, 4-5, 5-3, 6-5, 7-1, 8-3, 9-2, 10-2
11-5, 12-5, 13-1, 14-4, 15-4, 16-3, 17-1, 18-4, 19-4, 20-5
21-5, 22-4, 23-1, 24-3, 25-3, 26-3, 27-1, 28-3, 29-4, 30-5, 31-3, 32-4, 33-2, 34-5, 35-3

Saturday, August 30, 2014

Revolutions in the field of agriculture in India

· Black Revolution - Petroleum Production
· Blue Revolution - Fish Production
· Brown Revolution - Leather/non conventional ( India)/Cocoa production
· Golden Fiber Revolution - Jute Production
· Golden Revolution - Fruits/Overall Horticulture development/Honey Production
· Green Revolution - Food grains
· Grey Revolution - Fertilizer
· Pink Revolution - Onion production/Pharmaceutical (India)/Prawn production
· Red Revolution - Meat & Tomato Production
· Round Revolution - Potato
· Silver Fiber Revolution - Cotton
· Silver Revolution - Egg/Poultry Production
· White Revolution (In India: Operation Flood) - Milk/Dairy production
· Yellow Revolution - Oil Seeds production
· Evergreen Revolution - Overall development of Agriculture 

Schemes Launched by Union & State Governments

Pradhan Mantri Krishi Seenchayi Yojana: 
Pradhan Mantri Krishi Seenchayi Yojana was announced by Prime Minister Narendra Modi . The Yojna has been announced to meet the irrigation needs of all farmers across the country. Sum of 1000 crore rupees has been allocated for implementation of the scheme.

Padho Pardesh scheme for minority community: 
Government has launched a scheme titled, Padho Pardesh, for providing interest subsidy on educational loans for overseas studies for students belonging to the notified minority communities like Muslims, Christians, Sikhs, Buddhists, Jains and Parsis.
Note: The objective of the scheme is to award interest subsidy to meritorious students belonging to economically weaker sections of the notified minority communities so as to provide opportunities for higher education abroad and enhance their employability.

Rashtriya Gokul Mission:
Government has launched the Rashtriya Gokul Mission to promote conservation and development of indigenous breeds in a focused and scientific manner. The mission aims at enhancing milk production, upgrading non-descript cattle using elite indigenous breeds and distribute disease free high genetic bulls.

Govt re-launches Varishtha Pension Bima Yojana: 
The government has re-launched the Varishtha Pension Bima Yojana, for the benefit of citizens aged 60 years and above.
Note: It will provide monthly pension ranging from 500 to 5,000 rupees per month to senior citizens of the country. The Scheme will be administrated by the Life Insurance Corporation, LIC.

SUMMITS HELD IN 2014

1. BRICS summit
Country: Brazil, Russia, India, China, South-Africa.
- 6th BRICS Summit 2014: Fortaleza, Brazil
- Next 7th BRICS Summit to be held in Ufa, Russia
Note: Ufa is the capital city of the Republic of Bashkortostan, Russia, and the industrial, economic, scientific and cultural centre of the republic.
- The theme chosen for our discussions was "Inclusive Growth: Sustainable Solutions”.
New BRICS Bank:
The New Development Bank (NDB), formerly referred to as the BRICS Development Bank, is a proposed multilateral
development bank operated by the BRICS states (Brazil, Russia, India, China and South Africa) as an alternative to the existing
World Bank and International Monetary Fund.
The New Development Bank headquarter will be in Shanghai, China.
The Bank will have a rotating chair and its first President will come from India for the first six years.
The first chair of the Board of Governors shall be from Russia.
The first chair of the Board of Directors shall be from Brazil.
The Bank will also have a regional office in Johannesburg, South Africa.
Participant leaders of the five nations are
• Brazil - Dilma Rousseff
• Russian - Vladimir Putin
• Indian - Narendra Modi
• China - Xi Jinping
• South Africa - Jacob Zuma
Development Capital: The member countries will also set up a $100 billion currency reserves pool to help countries
forestall short-term liquidity pressures.
Note: The bank will begin with a subscribed capital of $50 billion divided equally between its five founders.

2. IBSA Summit: 
India will host the next summit of IBSA (India, Brazil, South Africa) in New Delhi in 2015.

3. Nuclear security summit
· 2nd Summit 2012 – Seoul, South Korea.
· 3rd Summit 2014 : Hague, Netherland
· 4th Summit 2016: United States

4. G 8 Summit:
· G-8 Countries: Canada, France, Germany, Italy, Japan, Russia, Britain and the US
· 40th G-7 summit 2014 held at Brussels.
Note: It was the first time that the EU hosted a G7 summit. The summit is jointly represented by the European Council President Herman van Rompuy and the European Commission President.

5. G 20 Summit:
· G-20 meeting (2014) of Finance ministers and central bank governors held in Sydney (Australia).
· G20 Leaders Summit (2014) will be held in Brisbane, Queensland (Australia, in November 2014.

6. SAARC Summit:
· 18th SAARC Summit 2014- Kathmandu (Nepal)

7. NATO Summit:
 NATO Summit 2014 will be held in Britain. (Britain last hosted the summit in 1990, when Margret
Thatcher was Prime Minister).

8. BIMSTEC Summit:
· 3rd BIMSTEC summit 2014: Nay Pyi Taw (Myanmar)
· 4th BIMSTEC summit will be held in Nepal.
Note: BIMSTEC (Bay of Bangal Initiative for Multisectoral Technical and Economic Cooperation)
BIMSTEC includes 7 countries: Bangladesh, India, Myanmar, Sri Lanka, Thailand, Bhutan and Nepal and aims to create cooperation in multiple sectors including trade, investment and energy.

OTHERS SUMMITS:
1. 18th BASIC Ministerial Meeting held in New Delhi.
BASIC - (Brazil, South Africa, India and China)
Note: 17th BASIC Ministerial Meeting on Climate Change was held in Hanzghou, China

2. ASEAN foreign-minister-meeting held in Myanmar

3. Fifth Indo-US Strategic Dialogue held in New Delhi during which the two sides discussed “transformative initiatives” in key areas of security and energy.

4. 3rd India-Africa Summit will be held in New Delhi

5. 6th International Nuclear Energy Forum ATOMEXPO-2014 held in Moscow

6. World Economic Forum 2014: held in Abuja (Nigeria). Bharti Enterprises founder and Chairman Sunil Bharti Mittal co– chair this year’s edition of the World Economic Forum on Africa.

Important Committees in News

1. G. Padmanabhan Committee: implementation of Bharat Bill Payment System (BPPS)
2. Nachiket Mor committee: for small and payments bank
3. Nachiket Mor Committee: to permits NBFCs to work as Business Correspondents of banks.
4. Deepak Mohanty Committee: on Data and Information Management in the Reserve Bank of India
5. K.K. Mehrotra Committee: to inquire gas leakage in Bhilai Steel Plant.
6. PJ Nayak: to review Governance of Boards of Banks in India. The committee was constituted under the chairmanship of P.
J. Nayak. He is a former Chairman and CEO of Axis Bank.
7. M P Bezbaruah: to suggest suitable remedial measures to address concerns regarding security of people from North East.
8. B. Sambamurthy: panel favours single mobile banking app on all SIMs. Panel recommended that customers should not be
required to visit the bank branch for mobile number registration.
9. Vijay Kelkar Committee was appointed by the Petroleum and Natural Gas Ministry to prepare a road map to make India
self-sufficient in oil and natural gas by 2030.
10. Vishnu Sahay committee: look probe into the Muzaffarnagar communal violence.
11. Urjit Patel Committee - to examine the current monetary policy framework
12. Mukul Mudgal member panel to probe IPL spot-fixing
13. Nachiket Mor - committee on comprehensive financial services for small businesses and low-income households.
14. Justice A.P. Shah committee : to head panel on road safety
15. Anil Kaushal committee: to examine the recommendations made by the TRAI on pricing of Spectrum.
16. Bimal Jalan panel : to scrutinize applications for new bank licenses.
17. Parthasarathi Shome. – for Tax Administration Reform Commission (TARC), Suggest a system to enforce better tax
compliance
18. Kirit Parikh panel : on fuel pricing has suggested that the diesel prices should be increased by Rs 1-1.50 a litre every month
as against the 45-50 paise monthly hike followed currently.
19. K U.B. Rao : the idea of setting up Bullion Bank or Bullion Corporation of India
20. Arvind Mayaram Panel: report on the alleged irregularities at the National Spot Exchange Ltd (NSEL)
21. Arvind Mayaram Committee –for giving clear definitions to Foreign Direct Investment (FDI) and Foreign Institutional
Investment (FII)
22. Suma Verma Committee - to update, and revise the Banking Ombudsman Scheme, 2006

India ranking in different Indexes

1. Human Development Index 2014 – 135
2. Global Environment Performance Index 2014 – 155
3. Intellectual property (IP) environment 2014 – 25 (US ranked on the top followed by UK and France)
4. World Press Freedom Index 2014 - 140 in the list of 180 countries
5. World's best countries for doing business 2014 – 134
6. Global Peace Index 2014 – 143
7. Global Innovation Index 2014 - 76
8. World Prosperity Index 2013 – 106.
9. Global Corruption Index 2013 – 94
10. Global Competitiveness Index 2013 -60 for 2013 (Switzerland
top in this report)

Friday, August 29, 2014

Prime Minister launches 'Pradhan Mantri Jan Dhan Yojana

The 'Pradhan Mantri Jan Dhan Yojana', an ambitious financial inclusion scheme under which the government intends to provide every household with a bank account and insurance cover, was launched by Prime Minister Narendra Modi on Thursday. 
The scheme, about which Modi made the announcement in his Independence Day speech, was launched across the country simultaneously amid his emphasis that it lies at the core of "our development philosophy of 'Sabka Sath Sabka Vikas'". '1.5 crore bank accounts will be opened on first day of Jan Dhan Yojana'
Jan Dhan Yojana, a dream project to open at least one bank account to every household. Noting that 10 crore people do not have bank account, the Finance Minister aims to cover 7.5 crore people under Jan Dhan Yojana by January 25, 2015. As a first step, under the scheme, every account holder will get a 'RuPay' debit card with Rs 30,000 life insurance besides accidental insurance of up to Rs 1 lakh. 

GENERAL AWARENESS PRACTICE MCQs FOR ALL BANK EXAMS

1.    If PAN details are not provide, the TDS is deducted at which of the following rates?
(1) 10%                
(2) 20%
(3) 10% for senior citizens & 20% for others
(4) 10% plus 10% surcharge
(4) None of the above

2.    Who decides on the quantity of coins to be minted?
(1) the Government of India
(2) RBI
(3) Either 1 or 2
(4) All of the above
(5) None of the above

3.    Who can invest in a Commercial Paper?
(1) Individuals
(2) Banking companies
(3) Corporate bodies registered or incorporated in India and unincorporated bodies, Non- resident Indians (NRIs) and Foreign Institutional Investor (FIIs)
(4) All of the above
(5) None of the above

4.    Who among the following has not won the Gold medal in the recently concluded 2014 Commonwealth Games?
(1) Apurvi Chandela                      
(2) Pinki Rani              
(3) Amit Kumar
(4) Sukhen Dey                            
(5) Vinesh Phogat

5.    Recently Ebola has outbreak in four West African countries and 932 people were killed by this virus. Which among the following countries is not the centre of outbreak?
(1) Liberia                          (2) Sierra Leone          (3)   Nigeria
(4) Guinea                         (5) Namibia

6.     Nhava Sheva is the largest container port in India. It is situated in which of the following States?
1) Andhra Pradesh                   

2) Odisha                   
 3) Maharashtra
4) Karnataka                     
5) Gujarat

7.    Who among the following is not a Padma Bhushan award winner in 2014?
1) Leander Paes               

2) P.Gopichand                       
3) K. Radhakrishnan
4) Ruskin Bond                 

5) B.K.S. Iyengar

8.    Karnataka won the Ranji Trophy Cricket for the seventh time by defeating which of the following teams in the final in January 2014?
1) Maharashtra                 2) Punjab                     3) Kerala
4) Mumbai                         5) Baroda

9.    How many languages in India have got classical language status at present?
1) 3                                    2) 2                  3) 6
4) 4                                    5) 5

10.  What is India's rank at the 2014 Environmental Performance Index?
1) 77                                  2) 155              3) 118
4) 73                                  5) 148


11.  Recently Union Government granted Navratna Status to which company ?
(1) Power Grid corporation of India
(2) Nuclear power corporation of India
(3) NALCO                        
(4) Hindustan Aeronautics Limited                        
(5) Container Corporation of India Limited

12.  Who won the Golden glove award in 2014 Fifa World cup ?
(1) Manuel Neuer                           
(2) Lionel Messi                       
(3) Ochua
(4) Micheal Kameani                                  
(5) James Rodriguez

13.  A advisory group of the RBI recommended creating BBPS to facilitate single window to pay all bills. What does BBPS stands for?
1) Bank-Based Payment Services          
2) Broad-Based Payment Services
3) Bharat Bill Provisioning Services        
4) Bharat Bill Provisioning Services
5) Bharat Bill Payment System

14.  FDI Cap in Defence sector has been raised from 26 percent to:
(1) 34 percent                   (2) 41 percent             (3) 46 percent
(4) 49 percent                   (5) 74 percent

15.  Kargil Vijay Diwas is celebrated on?
(1) July 14                         (2) July 18                   (3) 25 July
(4) July 22                         (5) July 26


ANSWERS:
1) 2; 2) 1; 3) 4; 4) 2; 5) 5; 6) 3; 7) 5; 8) 1; 9) 3; 10) 2;
11) 5; 12) 1; 13) 5; 14) 4; 15) 5; 

Wednesday, August 20, 2014

GENERAL AWARENESS PRACTICE MCQs FOR IBPS CLERKS EXAM

1. The financial year of RBI is from:
a) 1st January to 31st December
b) 1st July to 30th June
c) 1st October to 30th September
d) 1st April to 31st March
e) None of these

2. According to third Bi-Monthly Monetary Policy, RBI reduced SLR by 50 basic points. Accordingly the SLR w.e.f. 9th August 2014 is:
a) 20.5%
b) 5%
c) 22%
d) 22.5%
e) 4%

3. Which of the following banks has launched 'Tiny Cards' with biometric identification to expand the coverage of banking services in rural parts of the country?
a) ICICI bank
b) NABARD
c) State Bank of India
d) Bank of India
e) None of these

4. Government policy to raise income by additional taxes and allocation of expenditure is called:
a) Expenditure policy
b) Monetary policy
c) Income policy
d) Fiscal policy
e) None of these

5. Which of the following statement(s) 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 banking services
c) All Schedule Commercial Banks, Regional Rural Banks and Scheduled Primary Co - operative Banks are covered under the scheme
d) All of the above
e) None of these

6. Largest shareholder (in percentage shareholding) of a nationalized bank is ____
a) RBI
b) NABARD
c) LIC
d) Govt. of India
e) IBA

7. Which one of the following is not a salient feature of Debit Card?
a) No bad debts to banks and no suits for recovery to the proposed Card H
b) No interest earning for banks
c) Works like a normal withdrawal
d) Can be used at ATM and POS
e) 180 days credit is given to the card holder

8. Which of the following is not a type of Cheque?
a) Crossed cheque
b) Blank cheque
c) Speed cheque
d) Bearer cheque
e) Order cheque

9. Which of the following Acts helps a bank in its day to day activities?
a) Workmen competition Act
b) Negotiable Instruments Act
c) Industrial Dispute Act
d) Consumer Protect Act
e) NRI Act

10. 'Federal Reserve' is the Central Bank of which of the following countries?
a) Russia
b) Britain
c) Canada
d) Australia
e) USA

11. Anationalized bank is also called by the following name:
a) Private Sector Bank
b) Self Help Group
c) Grameena Bank
d) Public Sector Bank
e) None of these

12. Banks in India are regulated under ___
a) Companies Act, 1956
b) Banking Regulation Act, 1949
c) Reserve Bank of India Act, 1934
d) Special powers conferred on the RBI
e) None of these

13. Banking sector fall under which of the following?
a) Agricultural Sector
b) Industrial Sector
c) Manufacturing Sector
d) Service Sector
e) Small Scale Sector

14. Loans of very small amounts given to low income groups is called ____
a) Cash Credit
b) Micro Credit
c) Simple overdraft
d) No frills loans
e) Rural credit

15. 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 of the above
e) None of these

16. Name the first bank in the country to launch the reverse mortgage scheme?
a) Bank of Baroda
b) Punjab National Bank
c) Canara Bank
d) SBI
e) None of these

17. Banks have started opening 'No Frill' accounts recently in order to help which of the following sections of customers?
a) Weaker section of society
b) High - value customers
c) Students
d) Loan - seekers who were not able to repay their loans taken earlier
e) None of these

18. Digital banking means:
a) Banking with calculators
b) Banking with digital instrument
c) Internet banking and Tele banking
d) Export finance
e) None of these

19. The banking system in India has mainly two types of Credit Control systems - quantitative and qualitative. Which of the following do(es) not fall under quantitative credit control?
a) Bank Rate
b) Cash Reserve Ratio (CRR)
c) Margin requirement
d) All of the above
e) None of these

20. Which of the following Rates/ Ratios is not covered under the Monetary and Credit policy of RBI?
a) Bank rate
b) Repo rate
c) Cash reserve ratio
d) Reserve repo rate
e) Exchange rate of foreign currencies

21. The new Capital Adequacy Framework prescribed for the banks commonly known as ___
a) Credit policy
b) KYC
c) Monetary Policy
d) Basel Accord
e) None of these

22. Which of the following is not a banking term?
a) Letter of Guarantee
b) RTGS
c) CBS
d) Speed Clearing
e) Speed Post

23. The RBI asked banks to spell out their policy, procedures and size of the business on which of the following aspects of banking?
a) On - shore banking
b) Off - shore banking
c) Investments in secondary market
d) Wealth management
e) None of these

24. What is the expanded form of ECS as used in banking sector?
a) Effective Clearing System
b) Electronic Confirmation System
c) Electronic Clearing Service
d) Enabled Clearing System
e) None of these

25. Normally used deposit accounts of banks by customers are ____
a) Current Accounts, Electricity Accounts and Insurance Premium Accounts
b) Current Accounts, Post office Savings Bank Accounts and Term Deposit Accounts
c) Loan Accounts, Savings Bank Accounts and Term Deposit Accounts
d) Current Accounts, Savings Bank Accounts and Term Deposit Accounts
e) Current Bill

ANSWERS:
1) b; 2) c; 3) c; 4) d; 5) e; 6) d; 7) e; 8) c; 9) b; 10) e;
11) d; 12) b; 13) d; 14) b; 15) c; 16) b; 17) c; 18) c; 19) c; 20) e;
21) d; 22) e; 23) d; 24) c; 25) d.

Sunday, August 17, 2014

GENERAL AWARENESS PRACTICE QUESTIONS FOR IBPS CLERKS EXAM

1. The Prime Minister of India Narendra Modi inaugurated the 240 Megawatt Uri II hydro power project on 2014 July 4 in which of the following States?
1) Sikkim
2) Assam
3) Gujarat
4) Himachal Pradesh
5) Jammu & Kashmir

2. Eduard Shevardnadze died on 2014 July 7. He was the former President of?
1) Russia
2) Georgia
3) Belarus
4) Ukraine
5) Estonia

3. B.V. Wanchoo resigned as the Governor of which of the following States after being questioned by the Central Bureau of Inve-stigation in the Augusta Westland chopper deal on July 4, 2014?
1) Karnataka
2) Gujarat
3) Goa
4) West Bengal
5) Uttar Pradesh

4. Who won the men's Wimbledon tennis singles title in July 2014?
1) Rafael Nadal (Spain)
2) Andy Murray (Great Britain)
3) Roger Federer (Switzerland)
4) Novak Djokovic (Serbia)
5) Milos Raonic (Canada)

5. Gonzalo Higuain represented which of the following countries in the 2014 FIFA World Cup in Brazil?
1) Germany
2) Brazil
3) Chile
4) Costa Rica
5) Argentina

6. Petra Kvitova of the Czech Rep-ublic won her second Wimbledon singles title on July 5, 2014. She defeated which of the following tennis players in the Wimbledon women's singles final?
1) Simona Halep (Romania)
2) Agnieszka Radwanska (Poland)
3) Angelique Kerber (Germany)
4) Jelena Jankovic (Serbia)
5) Eugenie Bouchard (Canada)

7. Who was appointed the United Nations Goodwill Ambassador by UN Women,
dedicated to gender equality and women's empowerment, in July 2014?
1) Ellie Goulding
2) Angelina Jolie
3) Aishwarya Rai
4) Emma Watson
5) Malala Yousafzai

8. Which of the following routes will get India's first bullet train?
1) Jaipur-Madurai
2) Mumbai-New Delhi
3) Mumbai-Ahmedabad
4) Mumbai-Gorakhpur
5) Nagpur-Pune

9. Which Committee advocated setting up of "Payment Banks" to provide payment services and deposit products to small businesses and low income households with a maximum balance of Rupees 50,000 per customer?
1) Vijay Kelkar
2) Urjit Patel
3) Nachiket Mor
4) C. Rangarajan
5) Raghuram Rajan

10. The theme of the 2014 World Economic Forum meeting is?
1) The Great Transformation: Shaping New Models
2) Resilient Dynamism
3) The Reshaping of the World: Consequences for Society, Politics and Business
4) Capitalizing Opportunity
5) Shaping World's Transformation

11. The 3rd Lusofonia Games were held in January 2014 in which of the following States?
1) Kerala
2) Tamil Nadu
3) Karnataka
4) Mizoram
5) Goa

12. The Lusofonia Games involves athletes coming from?
1) Spanish speaking countries
2) Portuguese speaking countries
3) German speaking countries
4) Italian speaking countries
5) English speaking countries

13. The 2014 Robert Foster Cherry Award for Great Teaching, a teaching award in the
USA, was given to?
1) Meera Chandrasekhar
2) Renu Khator
3) Nitin Nohria
4) Rakesh Khurana
5) Vasdev Chanchlani

14. Atanu Das is associated with which of the following sports?
1) Table Tennis
2) Badminton
3) Archery
4) Golf
5) Chess

15. Who won the 2014 Marconi Prize for revolutionizing high-speed delivery of multimedia?
1) Vint Cerf
2) A.J. Paulraj
3) Larry Page
4) Martin Cooper
5) Tim Berners Lee

16. Which of the following prizes is also known as Tech Nobel?
1) Genesis Prize
2) Templeton Prize
3) Marconi Prize
4) Abel Prize
5) Pritzker Prize

17. President Pranab Mukherjee conferred which of the following gallantry awards on
K. Prasad Babu on India's 65th Republic Day?
1) Mahaveer Chakra
2) Vir Chakra
3) Ashok Chakra
4) Kirti Chakra
5) Shaurya Chakra

18. With regard to taxation, expand the term TDS?
1) Tax Deposit Scheme
2) Tax Defaulted at Source
3) Tax Demanded at Source
4) Tax Deducted at Source
5) None of these

19. Which is the first bank in India to introduce e-KYC to open bank accounts?
1) Axis Bank
2) HDFC Bank
3) Federal Bank
4) ICICI Bank
5) Kotak Mahindra Bank

20. 'Follow Every Rainbow' is a book written by?
1) Shiv Khera
2) Amish Tripathi
3) Rashmi Bansal
4) Supriya David
5) Juliet Reynolds

21. Which company has introduced Guardian, a new safety application, for phone users in India?
1) Apple
2) Google
3) Facebook
4) Microsoft
5) Samsung

22. Obamacare is related to?
1) Education
2) Nutrition
3) Housing
4) Protection of women
5) Health insurance

23. The Nachiket Mor committee has proposed to convert which of the following into a commercial entity?
1) SIDBI
2) NHB
3) DICGC
4) NABARD
5) None of these

24. Barna Ballack Cup and Jayalak- shmi Cup are associated with?
1) Tennis
2) Badminton
3) Golf
4) Table Tennis
5) Polo

25. Sanchi Stupa is located in Raisen district of the State of?
1) Bihar
2) Jharkhand
3) Chhattisgarh
4) Odisha
5) Madhya Pradesh

26. Tehri Dam is constructed on which of the following rivers?
1) Chambal
2) Son
3) Bhagirathi
4) Gandak
5) Narmada

27. The headquarters of the Bank for International Settlements (BIS) is located in Basel in?
1) Austria
2) Switzerland
3) Belgium
4) Spain
5) Germany

28. Which of the following areas does not come under Bharat Nirman?
1) Roads
2) Water
3) Housing
4) Electricity
5) Health

29. Japan is a member of which of the following groups?
1) ASEAN
2) SAARC
3) APEC
4) NATO
5) SCO

30. What does 'MEP' stand for?
1) Minimum Entry Price
2) Minimum Exchange Price
3) Minimum Exemption Price
4) Minimum Export Price
5) Maximum Exchange Price

31. The United Nations General Assembly has declared which of the following days as World Wildlife Day to celebrate and raise awareness of the world's wild fauna and flora?
1) January 3
2) February 3
3) March 3
4) April 3
5) July 3

32. Uri II power project is built on which of the following rivers?
1) Ravi
2) Jhelum
3) Sutlej
4) Beas
5) Yamuna

33. Rose Revolution is associated with which of the following countries?
1) Ukraine
2) Iraq
3) Georgia
4) Yugoslavia
5) Portugal

34. Which of the following represents one basis point?
1) One percent
2) One-tenth of one percent
3) One-hundredth of one percent 4) One-thousandth of one percent
5) None of these

35. Identify the mismatched pair.
1) CBS - Core Banking Solutions
2) NCD - Non - Convertible Deben tures
3) BIFR - Board for Industrial and Financial Reconstruction
4) ICAO - International Civil Aviation Organization
5) UNCTAD - United Nations Charter on Tariffs and Deve- lopment

36. The Reliance Power's 4,000 MW ultra-mega power project (UM-PP) in Jharkhand got approval from the Cabinet Committee on Investment in January 2014. It is?
1) Tilaiya project
2) Sasan project
3) Mundra project
4) Krishnapatnam project
5) None of these

37. The first SASTRA-CNR Rao Award for Excellence in Chemistry and Materials Science was jointly awarded to?
1) M.R.S.Rao & S.Swaminathan
2) Suresh Das & Sourav Pal
3) Sekhar Basu & Madhavan Chandradathan
4) Ravi Bhushan Grover & Ajay Kumar Parida
5) None of these

38. Pritika Kalra Gandhi was honored with the National Nritya Shiromani Award on
2014 January 7. She is an exponent in which if the following dance forms?
1) Kuchipudi
2) Manipuri
3) Odissi
4) Bharata Natyam
5) Kathak

39. Anand Kumar, the founder of Su-per 30, was conferred which of the following awards in January 2014?
1) Abel Prize
2) Padma Shri
3) DSC Prize for South Asian Literature
4) Ramanujan Mathematics Award
5) Thiruvalluvar Award

40. Brussels is the capital city of which of the following European countries?
1) Belarus
2) Bulgaria
3) Portugal
4) Belgium
5) Romania

Answers:
1) 5 2) 2 3) 3 4) 4 5) 5 6) 5 7) 4 8) 3
9) 3 10) 3 11) 5 12) 2 13) 1 14) 3 15) 2 16) 3
17) 3 18) 4 19) 1 20) 3 21) 4 22) 5 23) 4 24) 4
25) 5 26) 3 27) 2 28) 5 29) 3 30) 4 31) 3 32) 2
33) 3 34) 3 35) 5 36) 1 37) 2 38) 3 39) 4 40) 4

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Tuesday, August 12, 2014

GENERAL AWARENESS PRACTICE QUESTIONS FOR IBPS CLERKS EXAM

1. The Priority Sector Lending does not include?
1) Agriculture
2) Consumption Loans
3) Loans to Self-Help Groups
4) Small road and water transport operators
5) Loans to Stock Exchange Brokers

2. The Agriculture Loan in the Priority Sector does not include ......
1) Loan to dairy and fisheries
2) Loan to poultry
3) Loan to animal husbandry
4) Loan to sericulture
5) Loan to commercial warehouses run by traders to keep agriculture produce in Urban areas

3. The Agriculture Loan in the Priority Sector include ......
1) Loan to individual farmers
2) Loan to Self Help Groups
3) Loan to Joint Liability Groups
4) Loans to small and marginal farmers for purchase of land for agricultural purposes
5) All of above

4. The loan given to agriculture, as a part of Priority Sector does not include ......
1) Loans to distressed farmers indebted to non-institutional lenders.
2) Loans to Primary Agricultural Credit Societies (PACS).
3) Loans to Farmers' Service Societies (FSS).
4) Loans to Adivasi Multi Purpose Societies (LAMPS).
5) Loans to traders hoarding the agriculture produce, to create the artificial scarcity.

5. Loans to individuals for educational purposes including vocational courses up to Rs. ...... for studies in India comes under Priority Sector Lending.
1) 15 Lakh
2) 10 Lakh
3) 20 Lakh
4) 5 Lakh
5) None

6. If a student pursuing any educational course in the abroad, then up to Rs....... lakh loan to be treated as Priority Sector lending.
1) 5
2) 20
3) 100
4) 20
5) 7.5

7. What is the limit for housing loans under Priority Sector, if a borrower lives in metropolitan centres with population above ten lakh?
1) Rs.100 Lakh
2) Rs.10 Lakh
3) Rs.25 Lakh
4) Rs.40 Lakh
5) None

8. Priority Sector lending does not include ......
1) Large Scale industries having capital more than 100 crores.
2) Small business (Original cost of equipment used not exceed Rs.20 Lakh).
3) Retail Trade (Advances to private retail traders up to Rs.10 Lakh).
4) Scheduled Castes and Scheduled Tribes.
5) State sponsored organizations for Scheduled Castes and Scheduled Tribes.

9. Bank loans to micro and small manufacturing and service enterprises also come under Priority Sector loans. If it is a micro enterprise, then the loan can be given provided the investment in plant and machinery do not exceed Rs. ......
1) 5 Lakh
2) 25 Lakh
3) 5 Crore
4) 15 Lakh
5) None

10. For the small scale industry, if the loan given come under priority sector when the investment in plant and machinery more than Rs.25 Lakh and but less than Rs. ......
1) 5 Crore
2) 2 Crore
3) 10 Crore
4) 8 Crore
5) None

11. Which loan not included weaker sections under priority sector lending?
1) Beneficiaries under the Scheme for Rehabilitation of Manual Scavengers (SRMS).
2) Artisans, village and cottage industries where individual credit limits do not exceed Rs.50,000.
3) Beneficiaries under the scheme of JNNURM.
4) Beneficiaries of Swarnajayanti Gram Swarozgar Yojana (SGSY), now National Rural Livelihood Mission (NRLM).
5) Loans to individual women beneficiaries up to Rs. 50,000 per borrower.

12. How much percent of total loans must be given to Priority Sector Lending by the domestic banks?
1) 30
2) 25
3) 40
4) 20
5) 10

13. ......% of Net Bank Credit (NBC) to be given to Priority Sector Lending by foreign banks as per the order of RBI?
1) 50
2) 40
3) 60
4) 12
5) 32

14. Which committee suggested to increase the Priority Sector holding of foreign banks from 32 % to 40%?
1) Padmanabhan
2) Goparia
3) MV Nair
4) Tarapore
5) None

15. Even foreign banks must provide 40% of their total loans to Priority Sector, if they have at least ...... branches in India as ordered by RBI.
1) 25
2) 10
3) 100
4) 25
5) 20

16. As per the decision of RBI, the increase in Priority Sector holding of foreign banks having more than 20 branches applicable from .......
1) 1 Apr 2018
2) 1 Apr 2013
3) 15 Mar 2013
4) 1 Jan 2013
5) None

17. Total agricultural advances must be ....... percent of Net Bank Credit (NBC) for domestic banks.
1) 24
2) 60
3) 15
4) 32
5) 18

18. Total agricultural advances must be ...... percent of Net Bank Credit (NBC) for foreign banks.
1) 18
2) 24
3) 56
4) 14
5) No Target

19. The advances to weaker sections is the part of Priority Sector holding. What percentage of NBC must be given to them by the foreign banks?
1) 50%
2) 20%
3) 25%
4) 60%
5) No Target

20. Foreign banks operating in India must give ...... percent of Net Bank Credit (NBC) to Export Credit.
1) 12
2) 25
3) 15
4) 50
5) 18

21. Measurement of a country's trade in which the value of goods and services it imports exceeds the value of goods and services it exports is called?
1) Government Budget
2) Balance Sheet
3) Current Account Deficit
4) Current Liabilities Deficit
5) None

22. Current Account Deficit stood at ........ percent by the end of 2013-14 FY against 4.7% in 2012-13?
1) 2.4
2) 3.2
3) 1.7
4) 3.8
5) None

23. To review the allocations and operational efficiencies of Government expenditure to achieve maximum output FM in Union Budget 2014-15, proposed to establish EMC. EMC stands for......
1) Expert Management Commission
2) Expedite Management Commission
3) Expenditure Migration Commission
4) Expenditure Monitoring Commission
5) Expenditure Management Commission

24. As per FM in the budget 2014-15, banks should need Rs. ....... crores as equity by 2018.
1) 2,40,000
2) 1,80,000
3) 5,00,000
4) 4,50,000
5) None

25. To incentivize the development of low cost affordable housing, Arun Jaitley proposed to set up a Mission on Low Cost Affordable Housing anchored by.....
1) RBI
2) HDFC
3) HUDCO
4) SBI
5) NHB

26. Mission on Low Cost Affordable Housing anchored by NHB get the allocation of?
1) Rs.2000 crore
2) Rs.1000 crore
3) Rs.4000 crore
4) Rs.3000 crore
5) None

27. Which of the following statement is correct related to proposal of establishment of farming group of 'Bhoomi Heen Kisan' as proposed by FM in the Union Budget 2014-15?
1) Large number of landless farmers are unable to provide land title as guarantee to get finance from banks.
2) So these land less farmers are being looted by money lenders.
3) It is better to provide finance also to them, by making a group of the land less farmers under the title of Bhoomi Heen Kisan.
4) FM proposed to finance 5 lakh joint farming groups of Bhoomi Heen Kisan this year through NABARD.
5) All of above

28. In the Union Budget 2014-15, the FM put how much target on banks to provide loans to agriculture?
1) Rs.4 Lakh Crore
2) Rs.2 Lakh Crore
3) Rs.10 Lakh Crore
4) Rs.8 Lakh Crore
5) None

29. Interest Subvention Scheme for short term crop loans will be ....... as told by FM in the recent budget.
1) discontinued
2) discontinued from Rabi season of 2014-15
3) applicable to food grains growing farmers alone
4) continued
5) None of above

30. Narendra Modi government committed to ......
1) 'Minimum Government Least Governance'
2) 'Viable Government Maximum Governance'
3) 'Minimum Government No Governance'
4) 'Minimum Government Maximum Governance'
5) None

31. Modi said on 10th July 2014, that the government do all possible help to the poor, the neo-middle class and the middle class, inspired by the mantra of ......
1) Sab se badao aage badao
2) Sab ka accha nahi bura
3) Sabka Saath, Sabka Vikas
4) Sab ke Jagaran adhik karna
5) Sabka Saath, Sabka Jaatak

32. Who was appointed as the fourth Deputy Governor of the Reserve Bank of India on 30 July 2014?
1) K.R. Kamath
2) Sikha Sharma
3) S.S. Mundra
4) Y. Malegam
5) Nachiket Mor

ANSWERS:
1-5, 2-5, 3-5, 4-5, 5-2, 6-4, 7-3, 8-1, 9-2, 10-1
11-3, 12-3, 13-5, 14-3, 15-5, 16-1, 17-5, 18-5, 19-5, 20-1
21-3, 22-3, 23-5, 24-1, 25-5, 26-3, 27-3, 28-4, 29-4, 30-4, 31-3, 32-3.

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Monday, August 11, 2014

GENERAL AWARENESS PRACTICE MCQs FOR IBPS CLERKS EXAM

1. S.K. Jain was arrested by the Central Bureau of Investigation in connection with a bribery case on August 2, 2014. He was the Chairman and Managing Director of which of the following public sector banks?
1) Canara Bank
2) Vijaya Bank
3) Allahabad Bank
4) Bank of India
5) Syndicate Bank

2. Which team won the men's hockey gold medal at the 20th Commonwealth Games in Glasgow on August 3, 2014?
1) India
2) Australia
3) NewZealand
4) England
5) Netherlands

3. The Human Resources Development Ministry has set up a committee to restructure University Grants Commission, the apex regulatory body for higher education in India. It will be headed by?
1) C.M. Jariwala
2) Kapil Kapoor
3) Hari Gautam
4) P. Venkatram Reddy
5) None of these

4. U.S. Defense Secretary visited India in August 2014. Name him?
1) John Kerry
2) Jack Lew
3) Eric Holder
4) Chuck Hagel
5) Tom Vilsack

5. Identify the mismatched pair?
1) Bank rate - 9%
2) Repo rate - 8%
3) Reverse repo rate -7%
4) Cash reserve ratio -3%
5) Statutory liquidity ratio -22%

6. Kamla Beniwal has been removed as Governor of which of the following States?
1) Sikkim
2) Manipur
3) Tripura
4) West Bengal
5) Mizoram

7. Didier Drogba has announced his retirement from international football after playing 12 years for?
1) Nigeria
2) Algeria
3) IvoryCoast
4) Cameron
5) Morocco

8. Sri Lankan veteran batsman Kumar Sangakkara hit a double century for the 10th time in Test Cricket on August 9, 2014. Who holds the world record with 12 double centuries?
1) Brian Lara
2) Wally Hammond
3) Mahela Jayawardene
4) Don Bradman
5) Sachin Tendulkar

9. A special court in which of the following countries has awarded the death penalty to Paresh Barua, chief of the breakaway United Liberation Front of Asom (ULFA) faction, in connection
with an arms haul in 2004?
1) Myanmar
2) China
3) Bangladesh
4) Bhutan
5) Nepal

10. Which country's central bank allowed the Chinese Yuan, Indian Rupee, Japanese Yen and Australian Dollar to be added into the basket of multiple currencies to be circulated inside the country?
1) Russia
2) South Africa
3) Bhutan
4) Nigeria
5) Zimbabwe

11. Which country will sell ShinMaywa US-2 amphibious planes to Indian Navy?
1) China
2) USA
3) Israel
4) Japan
5) Sweden

12. What does the letter 'S' denote in the banking term MSF?
1) Statutory
2) Subsidy
3) Standing
4) Standard
5) None of these

13. Which of the following teams won their first ICC Under-19 World Cup title in Dubai on March 1, 2014?
1) South Africa
2) Pakistan
3) India
4) Australia
5) England

14. Lakshmi Swaminathan is the first Indian to become the President of the Administrative
Tribunal of the?
1) World Bank
2) World Trade Organization
3) Asian Development Bank
4) International Monetary Fund
5) None of these

15. Nishi Vasudeva took charge as the Chairperson and Managing Director of which of the following companies on March 1, 2014?
1) OIL
2) IOC
3) ONGC
4) BPCL
5) HPCL

16. Russia signed a historic border treaty with which of the following countries on February
18, 2014?
1)Ukraine
2) Georgia
3) Kazakhstan
4) Latvia
5) Estonia

17. Nandankanan Zoological Park is located in which of the following States?
1) Tamil Nadu
2) Kerala
3) Odisha
4) Karnataka
5)West Bengal

18. India's first wild dog breeding centre will come up at Indira Gandhi ZoologicalPark (IGZP) in?
1) Bhubaneswar
2) Kolkata
3) Chandigarh
4) Visakhapatnam
5) Hyderabad

19. Which of the following films received ten Academy Award nominations but did not win in any category?
1) Frozen
2) Helium
3) The Lady in Number 6
4) 20 Feet from Stardom
5) American Hustle

20. At the 86th Academy Awards Gravity won the most awards with seven including best Director for?
1) David O. Russell
2) Alexander Payne
3) Martin Scorsese
4) Alfonso Cuaron
5) None of these

21. Who became the first black director to direct a Best Picture winner at the 86th Academy Awards in March 2014?
1) Michael Haneke
2) Steve McQueen
3) Benh Zeitlin
4) Ang Lee
5) None of these

22. Identify the mismatched pair with regard to the 86th Academy Awards?
1) Best Picture - 12 Years a Slave
2) Best Actress - Cate Blanchett
3) Best Supporting Actor - Jared Leto
4) Best Supporting Actress - June Squibb
5) Best Actor - Matthew McConaughey

23. “Killa” bagged the Crystal Bear for the Best Film awarded by the Children's Jury in Generation K plus section at the 64th Berlin International Film Festival in February 2014. “Killa” is a?
1) Bengali film
2) Hindi film
3) Marathi film
4) Odia film
5) Punjabi film

24. Nido Tania died after being beaten up in New Delhi, triggering widespread protests. He was a student from?
1) Sikkim
2) Manipur
3) Assam
4) Meghalaya
5) Arunachal Pradesh

25. Mount Kelud erupted recently. It is a volcano located in?
1) Philippines
2) Indonesia
3) Ecuador
4) Japan
5) None of these

26. Mount Kumgang or Diamond Mountain is located in which of the following countries?
1) North Korea
2) South Korea
3) China
4) Vietnam
5) Japan

27. Yobe State is in the news recently. It is a State located in?
1) Syria
2) Nigeria
3) Iraq
4) South Africa
5) South Sudan

28. Which of the following is the capital of North Korea?
1) Hamhung
2) Chongjin
3) Pyongyang
4) Kaesong
5) Wonsan

29. Who is the first woman to be appointed as CMD of a Navratna public sector undertaking
(PSU)?
1) Surekha Marandi
2) Shubhalaxmi Panse
3) Nishi Vasudeva
4) Suma Varma
5) Bharati Rao

30. A Central Water Commission (CWC) report has recommended scrapping of 15 of the 44 dams
planned across the Siang River in?
1) Assam
2) Nagaland
3) Tripura
4) Arunachal Pradesh
5) Jammu & Kashmir

31. The Lakhwar Dam is a gravity dam currently under construction on which of the following rivers in Dehradun district of Uttarakhand?
1) Gandak
2) Gomti
3) Koshi
4) Ken
5) Yamuna

32. India's first ever river-linking project Narmada-Kshipra link project was inaugurated in February 2014. It is in?
1) Gujarat
2) Madhya Pradesh
3) Maharashtra
4) Chhattisgarh
5) Jharkhand

33. Who was given the Rotary's highest award for his/her leadership in the country's
victory over Polio?
1) Manmohan Singh
2) Ghulam Nabi Azad
3) Pranab Mukherjee
4) Hamid Ansari
5) Sonia Gandhi

34. Which of the following was adjudged the Best National Sports Federation (NSF) by the Federation of Indian Chamber of Commerce and Industry (FICCI) in New Delhi in February 2014?
1) National Rifle Association of India
2) Federation of Motor Sports Club of India
3) Billiards and Snooker Federation of India
4) All India Football Federation
5) None of these

35. Megha-Tropiques and AltiKa are the satellites launched by India and?
1) Germany
2) Spain
3) Russia
4) Japan
5) France

36. Which was the first paper currency note issued by the Reserve Bank of India in January 1938?
1) Five Rupee note
2) Ten Rupee note
3) 100 Rupee note
4) 1000 Rupee note
5) 10,000 Rupee note

37. The printing of notes in the denomination of which of the following has been discontinued?
1) Rupee 1
2) Rupee 2
3) Rupee 5
4) Both 1 and 2
5)All 1, 2 and 3

38. Cheyenne Woods of USA is a renowned player in which of the following sports?
1) Chess
2) Squash
3) Golf
4) Tennis
5) Basketball

39. U.K. Sinha has got a two-year extension till 2016 to continue as the Chairman of which of the following regulators?
1) FMC
2) PFRDA
3) SEBI
4) AERA
5) IRDA

40. Which of the following teams won the Federation Cup football at the Jawaharlal Nehru stadium in Kochi, Kerala on January 25, 2014?
1) Churchill Brothers
2) Sporting Goa
3) United
4) Eagles
5) Mohun Bagan

41. Who developed a cheap, simple, paper test that can detect cancer in February 2014?
1) Sangeeta Bhatia
2) Shubham Banerjee
3) Harminder Dua
4) V.V. Dongre
5) None of these

42. The Foreign Investment Promotion Board (FIPB) is a government body. Who is the Chairman of FIPB?
1) Secretary, Department of Economic Affairs
2) Secretary, Department of Industrial Policy and Promotion
3) Secretary, Department of Commerce
4) Secretary, Ministry of External Affairs
5) None of these

43. India signed a double taxation avoidance treaty with which of the following countries in Zagreb on February 12, 2014?
1) Montenegro
2) Macedonia
3) Croatia
4) Serbia
5) Bosnia Herzegovina

ANSWERS:
1. 5; 2. 2; 3. 3; 4. 4; 5. 4; 6. 5; 7. 3; 8. 4; 9. 3; 10. 5;
11.4; 12. 3; 13.1; 14. 3; 15. 5; 16.5; 17. 3; 18. 4; 19. 5; 20. 4;
21.2; 22. 4; 23. 3; 24. 5; 25. 2; 26.1; 27.2; 28.3; 29.3; 30.4;
31.5; 32.2; 33.3; 34.4; 35.5; 36.1; 37.5; 38.3; 39.3; 40.1;
41.1; 42.1; 43.3.

Sunday, August 10, 2014

List of various Committees and their main Focus Areas

1. A C Shah Committee: NBFC
2. A Ghosh Committee: Final Account s
3. A Ghosh Committee: Modalities Of Implement at ion Of New 20 Point Programme
4. A Ghosh Committee: Frauds & Malpractices In Banks
5. Abid Hussain Committee: Development Of Capital Market s
6. Adhyarjuna Committee: Changes In NI Act And Stamp Act
7. AK Bhuchar Committee: Coordinat ion Between Term Lending Institutions And Commercial Banks
8. B Eradi Committee:Insolvency And Wind Up Laws
9. B Sivaraman Committee:Institutional Credit For Agricultural & Rural Development
10. B Venkatappaiah Committee:All India Rural Credit Review
11. BD Shah Committee:St ock Lending Scheme
12. BD T hakar Committee:Job Criteria In Bank Loans (Approach)
13. Bhagwati Committee:Unemployment
14. Bhagwati Committee:Public Welfare
15. Bhave Committee:Share Transfer Reforms
16. Bhide Committee:Coordination Between Commercial Banks And SFC's
17. Bhootlingam Committee:Wage, Income & Prices
18. C Rao Committee:Agricultural Policy
19. CE Kamath Committee:Multi Agency Approach In Agricultural Finance
20. Chatalier Committee:Finance To Small Scale Industry
21. Chesi Committee:Direct Taxes
22. Cook Committee (On Behalf Of BIS - Under Basel Committee):Capital Adequacy Of Banks
23. D R Mehta Committee:Review Progress And Recommend Improvement Measures Of IRDP
24. Damle Committee:MICR
25. Dandekar Committee:Regional Imbalances
26. Dantwala Committee:Estimat ion Of Employments
27. Dave Committee:Mutual Funds (Functioning)
28. Dharia Committee:Public Distribution System
29. DR Gadgil Committee:Agricultural Finance
30. Dutta Committee:Industrial Licensing
31. G Lakshmai Narayan Committee:Extension Of Credit Limits On Basis Of Consort ium
32. G Sundaram Committee:Export Credit
33. Gadgil Committee (1969):Lead Banking System
34. Godwala Committee:Rural Finance
35. Goiporia Committee:Customer Service In Banks
36. GS Dahotre Committee:Credit Requirements Of Leasing Industry
37. GS Patel Committee:Carry Forward System On Stock Exchanges
38. Hathi Committee:Soiled Bank notes
39. Hazari Committee (1967):Industrial Policy
40. IT Vaz Committee:Working Capital Finance In Banks
41. J Reddy Committee:Reforms In Insurance Sect or
42. James Raj Committee:Functioning Of Public Sector Banks
43. Jankiramanan Committee:Securities Transactions Of Banks & Financial Institutions
44. JV Shetty Committee:Consortium Advances
45. K Madhav Das Committee:Urban Cooperat ive Banks
46. Kalyansundaram Committee:Introduction Of Fact oring Services In India
47. Kamath Committee:Education Loan Scheme
48. Karve Committee:Small Scale Industry
49. KB Chore Committee:To Review The Symbol Of Cash Credit Q
50. Khanna Committee:Non Performing Assets
51. Khusrau Committee:Agricultural Credit
52. KS Krishnaswamy Committee:Role Of Banks In Priority Sector And 20 Point Economic Programme
53. L K Jha Committee:Indirect Taxes
54. LC Gupta Committee:Financial Derivatives
55. Mahadevan Committee:Single Window System
56. Mahalanobis Committee:Income Distribution
57. Marathe Committee:Licensing Of New Banks
58. ML Dantwala Committee:Regional Rural Banks
59. Mrs. KS Shere Committee:Electronic Fund Transfer
60. Nadkarni Committee:Improved Procedures For Transact ions In PSU Bonds And Units
61. Nariman Committee:Branch Expansion Programme
62. Narsimham Committee:Financial System
63. Omkar Goswami Committee:Industrial Sickness And Corporate Restructuring
64. P R Nayak Committee:Institutional Credit To SSI Sector
65. P Selvam Committee:Non Performing Assets Of Banks
66. PC Luther Committee:Productivity, Operational Efficiency & Profitability Of Banks
67. PD Ojha Committee:Service Area Approach
68. Pendarkar Committee:Review The System Of Inspect ion Of Commercial, RRB And Urban Cooperative Banks
69. Pillai Committee:Pay Scales Of Bank Officers
70. PL Tandon Committee:Export Strategy
71. PR Khanna Committee:Develop Appropriate Supervisory Framework For NBFC
72. Purshottam Das Committee:Agricultural Finance And Cooperative Societies
73. R Jilani Banks:Inspect ion System Of Banks
74. R S Saria Committee:Agricultural Finance And Cooperative Societies
75. Raghavan Committee:Competition Law
76. Raja Chelliah Committee:Tax Reforms
77. Rajamannar Committee: Centre - State Fiscal Relationships
78. Rajamannar Committee:Changes In Banking Laws, Bouncing Of Cheques Etc.
79. Rakesh Mohan Committee:Petro Chemical Sector
80. Ram Niwas Mirdha Committee (JPC):Securities Scam
81. Rangrajan Committee:Computerizat ion Of Banking Indust ry
82. Rangrajan Committee:Public Sector Disinvestment
83. Rashid Jilani Committee:Cash Credit System
84. Ray Committee:Industrial Sickness
85. RG Saraiya Committee (1972):Banking Commission
86. RH Khan Committee:Harmonizat ion Of Banks
87. RK Hajare Committee:Dif ferential Interest Rates Scheme
88. RK T alwar Committee:Customer Service
89. RK T alwar Committee:Enactment Having A Bearing On Agro Landings By Commercial Banks
90. RN Malhotra Committee:Reforms In Insurance Sector
91. RN Mirdha Committee:Cooperative Societies
92. RV Gupta Committee:Agricultural Credit Delivery
93. S Padmanabhan Committee:Onsite Supervision Funct ion Of Banks
94. S Padmanabhan Committee:Inspection Of Banks (By RBI)
95. Samal Committee:Rural Credit
96. SC Choksi Committee:Direct Tax Law
97. Shankar Lal Gauri Committee:Agricultural Marketing
98. SK Kalia Committee:Role Of NGO And SHG In Credit
99. SL Kapoor Committee:Institutional Credit To SSI
100. Sodhani Committee:Foreign Exchange Markets In NRI Investment In India
101. SS Kohli Committee:Rehabilitation Of Sick Industrial Units
102. SS Kohli Committee:Rationalization Of Staff Strength In Banks
103. SS Kohli Committee:Willful Defaulters
104. SS Nadkarni Committee:Trading In Public Sect or Banks
105. SS T arapore Committee:Capital Account Convertibility
106. Sukhmoy Chakravarty Committee:To Review The Working Of Monetary System
107. T ambe Committee:Term Loans To SSI
108. T andon Committee:Follow Up Of Bank Credit
109. T andon Committee:Industrial Sickness
110. T hakkar Committee:Credit Schemes To Self Employed
111. T hingalaya Committee:Restructuring Of RRB
112. T iwari Committee:Rehabilitation Of Sick Industrial Undertakings
113. UK Sharma Committee:Lead Bank Scheme (Review)
114. Usha T horat Panel: Financial Inclusion
115. Vaghul Committee:Mutual Fund Scheme
116. Varshney Committee:Revised Met hods For Loans (>2 Lakhs)
117. Venketaiya Committee:Review Of Rural Financing System
118. Vipin Malik Committee:Consolidated Accounting By Banks
119. VT Dehejia Committee:To Study Credit Needs Of Industry And Trade Likely To Be Inflated
120. Vyas Committee:Rural Credit
121. Wanchoo Committee:Direct Taxes
122. WS Saraf Committee:Technology Issues In Banking Indust ry
123. Y H Malegam Committee:Disclosure Norms For Public Issues
124. YV Reddy Committee:Reforms In Small Savings