Sunday, July 23, 2017

IBPS Recruitment of Officers & Office Assistant Posts

The online examination for the next Common Recruitment Process for RRBs for recruitment of Group 'A'- Officers (Scale-I, II & III) and Group 'B'-Office Assistant (Multipurpose) will be conducted by the Institute of Banking Personnel Selection (IBPS) tentatively between September and November 2017.

Post details:
1. Office Assistant (Multipurpose)
Qualification: Bachelor’s degree in any discipline. Proficiency in local language.

2. Officers Scale I
Qualification: Bachelor’s degree in any discipline. Preference will be given to the candidates having degree in Agriculture, Horticulture, Forestry, Animal Husbandry, Veterinary Science, Agricultural Engineering, Pisciculture, Agricultural Marketing and Cooperation, Information Technology, Management, Law, Economics or Accountancy. Proficiency in local language.

3. Officers Scale II (General Banking Officer)

Qualification: Bachelor’s degree in any discipline. Preference will be given to the candidates having degree in Banking, Finance, Marketing, Agriculture, Horticulture, Forestry, Animal Husbandry, Veterinary Science, Agricultural Engineering, Pisciculture, Agricultural Marketing and Cooperation, Information Technology, Management, Law, Economics and Accountancy.
Experience: Two years as an officer in a Bank or Financial Institution.

4. Officer Scale-II Specialist Officers (Manager)
A. Information Technology Officer
Qualification: Bachelor’s degree in Electronics/ Communication/ Computer Science/ Information Technology with a minimum of 50% marks in aggregate. One year (in the relevant field) experience.
B. Chartered Accountant
Qualification: Certified Associate (CA) from Institute of Chartered Accountants of India. One year as a Chartered Accountant experience.
C. Law Officer
Qualification: Degree in Law with a minimum of 50% marks in aggregate. 
Experience: Two years as an advocate or should have worked as Law Officer in Banks or Financial Institutions for a period of not less than two years.
D. Treasury Manager
Qualification: Charted Accountant or MBA in Finance. One year (in the relevant field) experience.
E. Marketing Officer
Qualification: MBA in Marketing. One year (in the relevant field) experience.
F. Agriculture Officer
Qualification: Bachelor’s degree in Agriculture/ Horticulture/ Dairy/ Animal Husbandry/ Forestry/ Veterinary Science/ Agricultural Engineering/ Pisciculture with a minimum of 50% marks in aggregate. Two years (in the relevant field) experience.

5. Officers Scale III-(Sr. Manager)
Qualification: Bachelor’s degree in any discipline with a minimum of 50% marks in aggregate. Preference will be given to the candidates having Degree/ Diploma in Banking, Finance, Marketing, Agriculture, Horticulture, Forestry, Animal Husbandry, Veterinary Science, Agricultural Engineering, Pisciculture, Agricultural Marketing and Cooperation, Information Technology, Management, Law, Economics and Accountancy.
Experience: Minimum 5 years experience as an Officer in a Bank or Financial Institutions.

Age (As on 01.07.2017):
For Officer Scale- III (Senior Manager): Between 21 to 40 years.
For Officer Scale- II (Manager): Between 21 to 32 years.
For Officer Scale- I (Assistant Manager): Between 18 to 30 years.
For Office Assistant (Multipurpose): Between 18 to 28 years.

Selection: Based on Preliminary Examination, Main Examination and Interview.

How to Apply: Candidates can apply online only from 24.07.2017 to 14.08.2017.
Online Examination – Preliminary: 
Officer Scale-I: 09.09.2017, 10.09.2017 and 16.09.2017.
Office Assistant: 17, 23 & 24.09.2017.

Online Examination – Main/ Single: 
Officers (I, II & III): 05.11.2017.
Office Assistant: 12.11.2017.
Conduct of interview (For Officers Scale I, II and III): December 2017.

For Detailed Notification Click Here

Monday, July 17, 2017


1. Who is the present Managing Director & CEO of Bank of India?
a) Dinabandhu Mohapatra
b) R Subramania Kumar
c) Sunil Mehta
d) N.Kamakodi
e) Neelam Damodharam

2. RBI has increased the capital requirement for Asset Reconstruction Companies (ARC) From the existing Rs. 2 crore to______ by March 2019.
a) Rs. 5 crore
b) Rs. 25 crore
c) Rs. 100 crore
d) Rs. 150 crore
e) Rs. 200 crore

3. Time limit for settlement of claims in Deceased cases:
a) 30 days from the date of death
b) 15 days from the date of death
c) 15 days from the date of submission of all the documents
d) 30 days from the date of submission of all the documents
e) 7 days from the date of death

4. Under Atal Pension Yojana (APY), the Central Govt will contribute 50% of total contribution or Rs. 1000 whichever is lower, to eligible subscriber's A/c, for a period of ___ years.
a) 2 years
b) 3 years
c) 4 years
d) 5 years
e) 6 years

5. ACH is a system that monitors and administers the processing of cheques and fund clearance among the banks. What is the full form of ACH.
a) Automatic Clearing House
b) Additional Clearing House
c) Autonomous Clearing House
d) Automated Clearing House
e) Authorised Clearing House

6. Mission Indra Dhanush aims to achieve full immunization of more than 90% children by _____
a) 2018
b) 2019
c) 2020
d) 2021
e) 2022

7. MS Dhoni is having SB account (Balance Rs. 80,000) and Fixed Deposit Account (Balance Rs. 1,20,000) in a Bank which is covered under DICGC. If that bank is to be closed for any reason whatsoever, What is the maximum amount MS Dhoni will be reimbursed by DICGC?
a) Rs.1,80,000
b) Rs. 1,00,000
c) Rs. 2,00,000
d) Rs. 1,20,000
e) None of the above

8. Main parties in case of Agency Agreement is:
a) Debtor - Creditor
b) Bailor - Bailee
c) Lessor - Lessee
d) Principal - Agent
e) Trustee - Beneficiary

9. Which of the following is/are correct regarding investment to reduce the risk of adverse price movements in an asset?
a) Hedge
b) SPV
c) MBS
e) b & c

10. The term "Allonge" refers to a sheet of paper attached:
a) To a negotiable instrument for the purpose of making endorsement thereon when there is no space on the instrument
b) To a Non-Judicial Stamp paper
c) To a mortgage deed for the purpose of witness
d) To the Sanction Advice of the loan intimating the terms of sanction
e) All the above

11. A mutual fund is set up in the form of:
a) A trust
b) A Company incorporated under the Indian Companies Act
c) An Act of Parliament
d) A Limited liability partnership
e) None of the above

12. What is the full form of ARM in case of Loans against mortgage of properties?
a) Additional Rate Mortgages
b) Advance Rate Mortgages
c) Adjustable Rate Mortgages
d) Appropriate Rate Mortgages
e) Anomalous Rate Mortgages

13. Name the only Private Sector Bank in the country which is designated as RBI's agent for banking business and carries out the banking business of Central Government?
c) J&K Bank
d) YES Bank
e) AXIS Bank

14. 'Good People to Bank With' is the tagline of:
a) United Bank of India
b) UCO Bank
c) Union Bank of India
d) Indian Overseas Bank
e) Vijaya Bank

15. AMRUT is urban transformation scheme with the focus of the urban renewal projects to establish infrastructure that could ensure adequate robust sewerage networks and water supply. Expand AMRUT.
a) Atal Mission for Rejuvenation and Urban Transformation
b) Atal Mission for Reconstruction and Urban Transformation
c) Atal Mission for Rural and Urban Transformation
d) Awas Mission for Rural and Urban Transformation
e) None of the above

16. The Headquarters of Security Printing and Minting Corporation of India Ltd (SPMCIL) is located in:
a) New Delhi
b) Bengaluru
c) Chennai
d) Trivandrum
e) Hyderabad

17. Deposit Insurance and Credit Guarantee Corporation (DICGC) is a wholly owned subsidiary of:
a) Central Government
b) Reserve Banks of India
e) None of the above

18. With an aim to strengthen Regional Rural Banks, as per the Bill introduced in the Lok Sabha during 2013, the authorized capital of the Regional Rural Banks to be raised to Rs. _____
a) 1000 crore
b) 500 crore
c) 2500 crore
d) 50 crore
e) 200 crore

19. Banks have to submit Suspicious Transactions Report(STR) to FIU-IND (Financial Intelligence Unit - India) as a part of antimoney laundering measures where the transactions:
a) Appears to be unusual or unjustified complexity
b) Appears to have no economic rationale or bonafide purpose
c) Source of funds are doubtful
d) Are not in commensurate with the business of the customer
e) All the above

20. Which of the following points are true with respect to PM Garib Kalyan Yojana?
a) The deposits under PMGKY shall not bear any interest
b) The Bonds Ledger account shall not be tradable
c) No commission / agency bank charges will be paid to the banks for accepting deposits under the scheme
d) The transferability of Bond Ledger Account shall be limited to nominee or to the legal heir of an individual holder, in the event of his death
e) All of the above

21. What type of loan is granted by banks for purchase of white goods?
a) Loan given for purchase of cotton seeds
b) Mortgage loan
c) Consumer durables loan
d) Home loan
e) Dairy loan

22. Which of the following is True regarding QR Code?
a) QR stands for Quick response Code
b) It is a payment transfer mechanism
c) It eliminates the need for PoS machines at a merchant outlet
d) There is no problem of loss of card or card expiry problems
e) All the above

23. Under Rural and Urban Housing for poor, PM announced two new housing schemes for the urban
poor recently. Under Pradhan Mantri Aawas Yojana (PMAY), the poor and middle class in cities
will get ___ exemption on interest for home loans up to Rs. 9 lakh and ___ exemption for home loans up to Rs.12 lakh.
a) 3%; 4%
b) 4%; 3%
c) 2%; 3%
d) 4%; 5%
e) 5%; 6%

24. Lien is a/an _______ of the creditor to retain possession.
a) Right
b) Obligation
c) Instrument
d) Interest
e) None of the above

25. The 'Banker's 'Fair Practice' code was brought out in June 2004 by:
a) IBA
b) RBI
c) Government of India
d) Banking Ombudsman

26. In a Hindu undivided family the business of the family is managed by:
a) Karta
b) Proprietor
c) Partner
d) Director
e) Co-Parcenors

27. A Public Limited Company shares are:
a) Not transferable
b) Transferable
c) The Act is silent
d) Transferable only if they are purchased in Primary Market
e) a & d

28. With an objective to give boost to the small entrepreneurs, credit guarantee for small businesses
(CGTMSE) has been enhanced from Rs. 1 crore to ______
a) Rs. 1.5 crore
b) Rs. 2 crore
c) Rs. 3 crore
d) Rs. 4 crore
e) Rs. 5 crore

29. Which of the following is not a Material Alteration?
a) Alteration of the date
b) Alteration of the sum payable
c) Alteration of Signature (Forgery)
d) Alteration of the name of payee
e) Alteration of the crossing

30. Under what circumstances banks can with held payments of customers?
a) When a customer is declared insolvent by the court
b) When a company goes on liquidation since the rights of account rests with the official liquidator
c) When the customer become insane
d) When the cheque is countermanded
e) All the above

31. A Fund of Funds is a scheme that invests primarily in:
a) Money market instruments
b) Other schemes of the same mutual fund or other mutual funds
c) The bullion market
d) The Government Securities
e) Primary market only

32. Which of the following are the advantages of Cheque Truncation System (CTS)?
a) A Faster clearing cycle to provide better customer service
b) Minimize transaction costs and loss of instruments can be avoided
c) Additional Security Features
d) Frauds can be eliminated
e) All the above

33. The Indian Banking System is regulated in terms of the provisions of ____ Act, 1934 and ___
a) Banking Regulation Act, 1949
b) Negotiable Instruments Act, 1881
c) Payment and Settlement Act, 2007
d) Prevention of Money Laundering Act, 2002
e) None of the above

34. When affairs of a bank is conducted in such a manner that gives a fair deal to all the stake holders, it is called:
a) Risk Management
b) Effective Management
c) Total Management
d) Corporate Governance
e) Mirror Management

35. The type of arrangement under which a bank pays the seller the value of the bill and later collects it from the buyer on the due date is called_____
a) Bill discounting
b) Factoring
c) Forfaiting
d) Deferred Collection
e) None

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

Tuesday, July 11, 2017

IBPS Recruitment of Probationary Officer/ Management Trainee posts

Institute of Banking Personnel Selection(IBPS) invites applications for online examination (Preliminary and Main) for the next Common Recruitment Process for selection of personnel for Probationary Officer/ Management Trainee posts in the Participating Organisations(CWE PO/ MT-VII) is tentatively scheduled in October/ November 2017.


1. Allahabad Bank: 447 Posts
2. Andhra Bank: 200 Posts
3. Bank of India: 200 Posts
4. Canara Bank: 900 Posts
5. Central Bank of India: 200 Posts
6. Oriental Bank of Commerce: 300 Posts
7. Punjab National Bank: 400 Posts
8. Punjab & Sind Bank: 100 Posts
9. Union Bank of India: 400 Posts
10. United Bank of India: 100 Posts
Total No. of Posts: 3247

Education Qualification : Candidates who have completed Any Degree or equivalent from a recognized Institute are Eligible to apply IBPS Recruitment 2017

Age Limit : 20 to 30 years As on 01.07.2017 .Age of Relaxation is Applicable 5 years For SC/ST candidates ,3 years For OBC Candidates & 10 years For PWD Candidates.

Pay Scale : Rs.23700-42020/- Per Month

Application Fee :
 General/OBC : Rs.600/- All Other Candidates (ST/SC/PWD) Application Fee : Rs.100/-

Selection Process : The candidates will be selected on the basis of Online Preliminary Examination, Main Examination and Personal Interview.

How to Apply : Candidates have to apply online through IBPS website between 06.08.2017 to 26.08.2017.

Important Dates

Application Online Start : 06 August, 2017 
Last Date for Registration : 26 August, 2017 
Last Date Fee Payment : 26 August, 2017 

Important Links
Download Notification : Click Here 
Apply Online : 
Official Website :

Sunday, July 9, 2017


1. First bank started in India with solely Indian capital investment is:
a) Bank of Baroda
b) Punjab National Bank
c) Punjab & Sind Bank
d) Central Bank of India
e) Canara Bank

2. The banker acts as a Bailee and the customer as Bailor, this relationship is applicable:
a) when a bank lends funds to a corporate customer
b) when a bank accepts US$ FCNR deposits form a NRI customer
c) when a customer operates a safe deposit locker
d) when a customer keeps articles in safe custody with a bank
e) None of the above

3. Which of the following is not a financial intermediary?
a) Banks
b) Financial institutions
c) Mutual funds
d) Non-bank finance companies
e) Companies engaged in manufacturing of good

4. Acustomers lost the Fixed Deposit Receipt issued by the bank. To obtain a duplicate FD he needs to furnish:
a) A Promissory note
b) A collateral security
c) A Letter of Credit
d) An Indemnity bond
e) Counter guarantee by the customer

5. Reserve Bank of India's functions are classified into:
a) Supervisory & Regulatory
b) Promotional & Developmental 132
c) Refinance Activities
d) a & b only
e) a, b & c

6. The scope of activities undertaken by the business correspondents will not include:
a) Disbursal of small value credit
b) Recovery of principal/collection of interest
c) Collection of small value deposits
d) Payment of money on demand drafts not exceeding Rs. 1,000
e) None of the above

7. In strategic Alliance, the alliance partners:
a) Merge with each other 220
b) One partner acquires the other
c) Remain separate entities
d) Amalgamate with one another
e) None of the above

8. A company which pools money from investors and invests in stocks, bonds, shares is called:
a) A bank
b) An insurance company
c) Bank assurance
d) Mutual Fund
e) None of the above

9. Mr. X who is an Ordinary SB account holder of a branch wants to nominate Mr. Y, an U.S. national, who is his friend. Is that allowed?
a) Yes it is freely permitted
b) Yes it is freely permitted, but at the time of settlement of claim and repatriation to the
nominee, branch has to take RBI permission
c) Yes it is freely permitted, subject to Regional office approval
d) Yes it is freely permitted, subject to CO approval
e) No it cannot be allowed

10. In a cheque, the word "Order" is changed to "bearer" by the holder of the cheque. This is called as:
a) Endorsement
b) Material alteration
c) Crossing
d) Special Crossing
e) Allonge

11. If a customer dies without leaving a will and the court appoints a person to handle the customer's Property. Such a person is called as:
a) An administrator
b) An executor
c) A liquidator
d) A successor
e) An Authorised Officer

12. Garnishee order is issued by:
a) Judgment Debtor
b) Judgment Creditor
c) Reserve Bank of India
d) The Court
d) Income Tax Department

13. One of the NRI customers wants to place FCNR deposits in Canadian $ with a bank. Can the
account be opened in Canadian Dollars?
a) Yes, his request can be accepted and open a FCNR a/c
b) No, Bank can not accept his request to open FCNR a/c in Canadian $
c) Will inform the customer to place FCNR in any one of the currencies (US$/ GBP/ JPY/ EUR)
d) Can open after seeking permission from Head Office
e) Can open after obtaining clearance from RBI

14. Which of the following is the the First Paper Currency Note issued by the RBI bearing the portrait of King Geoge VI?
a) Two Rupee Note
b) Five Rupee Note
c) Ten Rupee Note
d) Twenty Rupee Note
e) Fifty Rupee Note

15. Which of the following is the scheme for skill development of minorities?
a) Padho aur kamao
b) Seekho aur kamao
c) Kamao aur jiyo
d) Padho aur Seekho
e) None of the above

16. Capital adequacy is worked out based on:
a) Total demand and time liabilities
b) Net demand and time assets
c) Risk weighted assets
d) Risk weighted liabilities
e) None of the above

17. A Co-Operative Bank operating in different States are regulated by:
a) State Co-Operative Societies Act
b) Banking Regulation Act
c) Multi Unit Co-Operative Societies Act
d) Banking Laws (applicable to Co-Operative Societies)
e) RBI Act 1934

18. If a cheque is accidentally torn by the drawer, the cheque ___
a) Can't be paid
b) Can be paid, if the holder confirms the mutilation
c) Can be paid, if the drawer confirms the mutilation and if otherwise in order
d) Can't be paid, even if the drawer confirms the mutilation and otherwise in order
e) None of the above

19. Tele banking is not based on:
a) Virtual banking,
b) Voice processing,
c) Online banking
d) a & c
e) None of the above

20. Cash payment of Term deposits is possible, if the amount doesn't exceed Rs.:
a) 20,000
b) 25,000
c) 30,000
d) 40,000
e) 50,000

21. Balance in a current account is classified as:
a) Hybrid deposit
b) Term deposit
c) Demand deposit
d) Flexi deposit
e) None of the above

22. The rate at which domestic currency can be converted in to foreign currency and vice-versa is known as:
b) Base Rate
c) Repo Rate
d) Exchange Rate
e) Inter Bank Call Money Rate

23. Hypothecation is applicable in the case of ____.
a) Movable goods
b) Immovable property
c) Loan against Insurance Policies
d) Corporate guarantee
e) Gold Loan

24. The minimum percentage of Priority Sector advances to be maintained by foreign banks in India with less than 20 branches is __.
a) 40%
b) 18%
c) 32%
d) 50%
e) 60 %

25. One of the State Government avails of a temporary financial assistance from Reserve Bank of
India. This type of finance is called:
a) Overdraft
b) Temporary loan
c) Short term finance
d) Ways and Means advance
e) Repo

26. Which one of the following is known as 'Demat' account?
a) Account in which shares are held in electronic form
b) Other than those given as options
c) Account allowed to be operated by guardian of minor
d) Account operated by business correspondents in rural
e) None of the above

27. External commercial borrowings are governed under:
a) Foreign Exchange Regulation Act
b) Securitisation and Reconstruction of Financial assets and enforcement of security interest Act
c) Debt Recovery Tribunal Act
d) Foreign exchange management Act
e) None of the above

28. Maximum Bank Rate that can be declared by the Reserve Bank of India is:
a) 6%
b) 20%
c) 25%
d) 1% over MCLR
e) No such ceiling

29. Obligation of a Banker to maintain secrecy is applicable to:
a) Only in case of existing deposit accounts
b) Only in respect existing loan accounts
c) Only in case of closed accounts
d) All types of deposit/loan accounts (existing/closed)
e) No need of maintaining secrecy to exhibit transparency in banking transactions

30. A mortgage involves:
a) Transfer of ownership
b) Transfer of interest in Immovable property
c) Transfer of possession
d) a & c
e) None of the above

31. Bank A allows one of its clients to withdraw against clearing of a cheque. The banker is called as:
a) Collecting Banker
b) Holder in due course
c) Holder for value
d) Reimbursement banker
e) Paying Banker

32. As per the provisions of NI Act,1881 a banker gets protection for payment of a cheque only if it is a:
a) Holder in due course
b) Payment in due course
c) Holder for value
d) Not Negotiable Instrument
e) All of the above

33. SARFAESI Act 2002 is applicable to:
a) All states excluding Jammu and Kashmir
b) All states including Jammu and Kashmir
c) All Banks including Foreign Banks and RRBs
d) Only Union Terrirories
e) b & c

34. Management of a Bank vests with:
a) Reserve Bank of Indian
b) Asset Liability Committee (ALCO)
c) Board of Directors
d) Share Holders
e) a & d

35. Rajender Singh, gives a written stop payment instructions of a cheque Rs. 50/- to his banker.
This should be treated by the bank as:
a) A request from Sekhar
b) An intimation from Sekhar
c) An advice from Sekhar
d) A mandate from Sekhar
e) None of the above as the stop payment is for a small amount

36. Banks can grant loans against:
a) LIC Policy
b) CDs
c) FD issues other bank
d) Mutual fund
e) All the above

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

Saturday, July 8, 2017


1. The Government share holding in National Investment Infrastructure Fund (NIIF) is going to be ___:
a) 40 %
b) 49%
c) 50%
d) 51%
e) 30%

2. Can nomination be made by an illiterate depositor?
a) Yes, by affixing his Thumb Impression without witness
b) Yes, by affixing his Thumb Impression with one witness
c) Yes, by affixing his Thumb Impression with two witnesses
d) No, such nomination may be under influence may not hold legal validity
e) At the discretion of the Branch Head

3. EXIM bank was established in the year?
a) 1957
b) 1992
d) 1981
e) 1983

4. In 'Small Accounts' , balance at any point of time should not exceed ______:
a) Rs.50,000
b) Rs.1,00,000
c) Rs.10,000
d) Rs.25,000
e) None of these

5. As per RBI directives, banks are allowed opening a minor account subject to the following conditions. Which among the following is correct?
a) Only fixed, savings and recurring deposits accounts can be opened
b) Mother can also be accepted as a guardian
c) The accounts can also be opened in the guardianship of the mother, even if the father of the minor is living
d) Only a & b
e) All a, b & c

6. National Housing Bank monitors the performance of ___:
a) Liberalized Finance Scheme
b) Golden Jubilee Rural Housing Finance Scheme
c) Energy Efficient Housing Finance Scheme
d) Finance scheme for indirect loans
e) None of the above

7. Which among the following made the initial contribution for setting up Financial Inclusion
Fund and Financial Inclusion Technology Fund?
a) Government of India, NABARD and RBI
c) SIDBI, Government of India and IDBI Bank

8. National Housing Bank, a wholly- owned subsidiary of RBI started its operations from ___:
a) July, 1982
b) July, 1988
c) April, 1980
d) March, 1971
e) March, 1983

9. The Maturity period of Certificate of deposits issued by banks is seven days to one year, whereas
the certificate of deposits issued by Financial Institutions should be not less than One year and not exceeding ___:
a) 2 years
b) 3 years
c) 4 years
d) 6 years
e) None of the above

10. The Minimum capital requirement as per the final guidelines for Universal Banks is __:
a) Rs. 500 crore
b) Rs. 200 crore
c) Rs. 300 crore
d) Rs. 100 crore
e) Rs. 1000 crore

11. Which of the following statement is wrong relating to SIDBI.
a) SIDBI means Small Industries Development Bank of India
b) It was established on April 2, 1990
c) It is the principal financial institution for the promotion, financing and development of industry in the small-scale sector
d) Its Head Office is in Hyderabad
e) It has floated Credit Guarantee Fund Trust for Micro and Small Enterprises

12. Which of the following is a specific division of banking related to the creation of capital for other
companies, governments and other entities?
a) Merchant banking
b) Investment banking
c) Commercial banking
d) Wholesale banking
e) None of these

13. Name the first country which introduced plastic currency notes?
a) USA
b) UK
c) Russia
d) Australia
e) Germany

14. Authorized Dealers for foreign exchange transactions are appointed by:
a) Reserve Bank of India
b) Government of India
c) Individual Banks
e) None of the above

15. In terms of RBI Guidelines Banks should report credit information to Central Repository of
Information on Large Credits (CRILC) of the borrowers having aggregate fund based or non
fund based exposure of ____ once in a quarter.
a) Rs. 3 Crore and above
b) Rs. 5 Crore and above
c) Rs. 7 Crore and above
d) Rs. 8 Crore and above
e) Rs. 1 Crore and above

16. Which of the following loans are less risky from the bankers point of view?
a) Housing loans
b) Vehicle loans
c) Personal Loans
d) Credit Card advances
e) b & c

17. Insurance Regulatory and Development Authority of India was constituted in the year___:
a) 1938
b) 1971
c) 1993
d) 1999
e) 2000

18. Rajkiran Rai G will be taking charge as Managing Director & CEO of _____ from 1.7.2017
a) Union Bank of India
b) Syndicate Bank
c) Uco Bank
d) United Bank of India
e) Vijaya Bank

19. Interest Rate Risk in Banking Book (IRRBB) refers to which of the following?
a) Companies accounts books
b) Current or prospective risk to a bank's capital and earnings, arising from adverse movements in interest rates that affect banking book positions
c) Government accounts books
d) NGOs books
e) None of these

20. Under the Direct Benefit Transfer (DBT) in fertilizer sector, the subsidy will be released to whom?
a) Milk vendors
b) The fertilizer companies instead of the beneficiaries, after the sale is made by the retailers to the beneficiaries
c) NGOs
d) Gram Panchayats
e) None of these

21. When certain projects are not commercially viable Government may go in for funding
Public Private Partnership(PPP). Such fund is called as ___:
a) Bridge funding
b) Viability gap funding
c) Bonus funding
d) Premium funding
e) Ways and means funding

22. Balance in which of the following account is not repatriable?
a) NRO
c) NRO
d) b & c
e) All the above

23. When a bank fails causing instability in the financial system, such risk is called ____:
a) Systemic Risk
b) Market Risk
c) Credit Risk
d) Operational Risk
e) Systematic Risk

24. Normally banks will not give big ticket loans for longer tenures as it may lead to:
a) Insolvency
b) Liquidation
c) Asset-Liability mismatch
d) Bank Run
e) All the above

25. Which of the following is not a credit facility extended for short duration?
a) Bridge Loan
b) Term Loan
c) Commercial Paper
d) Bill Discounting
e) None of the above

26. Sometimes after disbursing the loan, banks will give reasonable time to customers to start repayment of loan. Such repayment facility is known as ____:
a) Amortization
b) Leverage
c) Balloon payment
d) Moratorium
e) Bullet payment

27. RBI regulates ceiling limit of interest for _____ deposits.
a) Savings
b) Recurring
c) Fixed
d) FCNR(B)
e) None of the above

28. GSTN (Goods and Service net work) is managed by?
a) Tech Mahendra
b) Wipro
c) Infosys
d) TCS
e) HCL Technologies Ltd

29. Which of the following takes care of export credit risks?
b) GIC Re
c) EXIM Bank
d) RBI

30. When the window for granting licenses is open through out the year, it is categorized as:
a) Open-tap Licensing
b) Off-tap Licensing
c) On-tap Licensing
d) For-tap Licensing
e) Free-tap Licensing

31. ATM transactions are interchangeable among the banks and this is made possible because of:
a) NFS - National Financial Switch
b) SWIFT - Society for Worldwide Interbank Financial Telecommunication
c) NEFT - National Electronic Funds Transfer
d) SFMS - Structured Financial Messaging System
e) None of the above

32. A negotiable instrument can be transferred legally and is possible with__:
a) Encumbrance
b) Endorsement
c) Moratorium
d) Write off
e) Right of set off

33. Which of the following is not one among the cities where Rs. 10 plastic bank notes will be introduced?
a) Hyderabad
b) Mysore
c) Bhubaneswar
d) Shimla
e) Cochin

34. Governing Council for BCSBI is appointed by:
a) Finance Ministry
b) Reserve Bank of India
c) A panel headed by Cabinet Secretary
d) Cabinet Committee on appointments
e) Indian Banks Association

35. Which of the following depicts the financial position of a bank or business enterprise at a given
point of time?
a) Balance sheet
b) Cash flow statement
c) Income statement
d) Model audit
e) Profit & Loss Account

36. General crossing of a cheque means:
a) Two cross lines across the cheque
b) The cheque can have an abbreviation "& Co. "between the two parallel lines
c) The cheque can have the words "Not Negotiable" between the two parallel lines
d) Cash will not be paid across the counter
e) All the above

37. Which is the largest foreign bank in India?
a) American Express Bank Ltd.
b) DBS Bank Ltd.
c) HSBC Ltd.
d) Standard Chartered Bank
e) United Overseas Bank Ltd.

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

Thursday, July 6, 2017

China tests a 'lunar palace' on earth

Chinese students will live in a laboratory simulating a lunar-like environment for up to 200 days as Beijing prepares for its long-term goal of putting humans on the moon.
Four postgraduate students from the capital's astronautics research university Beihang entered the 160- square-metre cabin dubbed the 'Yuegong-1' or 'Lunar Palace'.

BrahMos missile achieves rare feat

The Army carried out a successful test of the advanced BrahMos Block III Land Attack Cruise Missile (LACM) in the Andaman and Nicobar Islands.
Testing BrahMos in the Andaman and Nicobar islands is a symbolic statement, as it brings the strategic Malacca straits under its range.
BrahMos is a product of joint collaboration between India and Russia and is capable of being launched from land, sea, sub-sea and air against surface and sea-based targets.
The range of the supersonic missile was initially capped at 290 km as per the obligations of the Missile Technology Control Regime (MTCR). Since India's entry into the club, the range has been extended to 450 km and the plan is to increase it to 600 km.

Geographical Indication tag for Andhra Pradesh's Banganapalle mango

 The succulent Banganapalle mango has got a Geographical Indication (GI) tag, making Andhra Pradesh the proprietor of the variety knows for its sweetness.
Banganapalle mangoes have been grown for over 100 years in the state. It also known as Beneshan, Baneshan, Benishan, Chappatai and Safeda.
GI is covered under the Intellectual Property Rights and the Trade Related Aspects of Intellectual Property Rights (TRIPS).
 A GI tag certifies the origin of a product or produce from a particular region as the quality or other features of the product are attributable only to the place of its origin.

Monday, July 3, 2017


1. On 16 June 2017, RBI released a notification amending the .....
1) Banking Ombudsman Scheme 2000
2) Banking Ombudsman Scheme 2001
3) Banking Ombudsman Scheme 2004
4) Banking Ombudsman Scheme 2010
5) Banking Ombudsman Scheme 2006

2. Pecuniary jurisdiction of the Banking Ombudsman to pass an award has been doubled to ........

1) Rs.20 lakh 
2) Rs.10 lakh
3) Rs.2 lakh 
4) Rs.40 lakh 
5) Rs.30 lakh

3. As per the amended rules of Ombudsman scheme, the compensation not exceeding .......... can also be awarded by the Ombudsman to the complainant for loss of time, expenses incurred as also, harassment and mental anguish suffered by the complainant

1) Rs.1 lakh 
2) Rs.10 lakh 
3) Rs.5 lakh
4) Rs.2 lakh 
5) Rs.1.5 lakh

4. RBI on 16 June 2017, extended the scope of Ombudsman Scheme under which banks could be penalized for mis-selling third-party products like insurance and mutual funds via mobile or electronic banking. What is the aim of formulating Banking Ombudsman Scheme by RBI?

1) to promote the deposits in the unbanked areas as the part of Financial inclusion
2) to promote lending among the poor people, as they are depending on non-institutional sources
3) to redress the grievances or complaints arising out of the deficiency in the banking services
4) to universalize the discount of commercial bills issued by Commercial Banks
5) to incorporate the list of Scheduled banks in the RBI Act 1934

5. RBI introduced Banking Ombudsman Scheme as per Section 35 A of .....

1) Negotiable Instruments Act 1881
2) SARFAESI Act 2002
3) Banking Regulation Act 1949
4) FEMA, 1999 
5) RBI ACT, 1934

6. Ombudsman scheme first introduced in.......

1) USA 
2) India
3) Australia 
4) France 
5) UK

7. Which bank covered under the Banking Ombudsman Scheme?

1) Scheduled Public Sector Banks
2) Scheduled Private Sector Banks
3) Regional Rural Banks
4) Scheduled Primary Co-operative Banks
5) All of above

8. Banking Ombudsman is a senior official appointed by...........

1) Finance Minister 
2) RBI 
4) FSDC 
5) None

9. As per the present rules, any person can file a complaint before the Banking Ombudsman, if the satisfied reply is not received from the bank within a period of..........

1) One month 
2) Three months
3) Two months 
4) Six months
5) Twelve months

10. The Ombudsman rejects the compliant of the customer if...

1) the customer does not approach the bank first
2) one has not made the complaint within one year from the date one has received the reply of the bank or if no reply is received if it is more than one year and one month from the date of representation to the bank
3) subject matter of the complaint is pending for disposal / has already been dealt with at any other forum like court of law, consumer court
4) complaint is Frivolous or vexatious
5) In all above cases, the Ombudsman will not accept the compliant from customer

11. The fee collected by Ombudsman to take compliant from the customer?

1) Rs.5 
2) Rs.100
3) Rs.10 
4) fix by the bank
5) No fee collects by the Ombudsman

12. The Ombudsman take the compliant and can take action if ......

1) non-payment or delay in payment of inward remittances
2) non-credit of proceeds to parties accounts, non-payment of deposit or nonobservance of the Reserve Bank directives
3) not accepting the legal tender and or for charging of commission in respect thereof
4) inordinate delay in the payment or collection of cheques, drafts, bills
5) In the all above cases the Ombudsman take action against bank

13. When the Ombudsman take action against the bank?

1) collecting charges without adequate prior notice to the customer
2) refusal to accept or delay in accepting payment towards taxes, as required by government
3) refusal to close or delay in closing the accounts
4) non-observance of Reserve Bank guidelines on engagement of recovery agents by banks
5) In the above all cases, Ombudsman take action against the bank

14. The RBI framed a rule that any customer not satisfied with Ombudsman decision, then the customer can put an appeal to.........

1) Governor, RBI
2) Governor of that State
3) Finance Minister of India
4) President of India
5) Deputy Governor of RBI

15. RBI amended Banking Ombudsman Scheme includes complaints relating to Internet Banking and Non-adherence to BCSBI Code on 5 February 2009. BCSBI stands for.........

1) Banking Core and Standards Board of India
2) Banking Codes and State Board of India
3) Banking Codes and Standards Board of India
4) Business Codes and Standards Board of India
5) Banking Codes and Standards Bureau of India

16. RBI constituted committee under the Chairmanship of ................. to review the Ombudsman Scheme on 7 January 2013?

1) C. Ranga Rajan 
2) Suma Chakravarti
3) Suma Verma 
4) Usha Thorat
5) S.S.Mundra

17. 'RTGS' can be defined as the continuous settlement of funds transfers individually on an order by order basis (without netting). In this context, RTGS stands for...........

1) Real Time Glad Settlement
2) Real Tick Gross Settlement
3) Real Time Gross Settlement
4) RBI Time Gross Settlement
5) Real Time Gross Statement

18. In Real Time Gross Settlement transfer, 'Real Time' means .....

1) Money actually transferred in the rupees only
2) Money sending by the individual account holder only as the companies not allowed to do online transactions
3) Account holder advancing money to the beneficiary, which can be transferred at the later time
4) The processing of instructions at the time they are received rather than at some later time
5) All above are wrong statements

19. In RTGS, 'Gross Settlement' means........

1) settlement of funds done occasionally (order disputed with the bank)
2) settlement is not final, though it can be send now (order is in suspense mode)
3) settlement of funds happened later (urgency is not there )
4) settlement of funds transfer instructions occurs individually (on an instruction by instruction basis)
5) None of these

20. In the RTGS, funds settlement takes place in the books of the RBI, the payments are.........

1) put in pending 
2) not final at all
3) final but revocable
4) final and irrevocable
5) None of the above statement is correct

21. Minimum amount to be remitted through RTGS is .......

1) Rs.5 lakh 
2) Rs.1.5 lakh
3) Rs.2 lakh 
4) Rs.2.5 lakh
5) Rs.1.2 lakh

22. The Maximum amount can be send through RTGS is ..........

1) Rs.20 lakh 
2) Rs.12 lakh
3) Rs.2 lakh 
4) Rs.1 crore
5) There is no upper limit

23. In RTGS, under normal circumstances the beneficiary branches are expected to receive the funds in real time as soon as funds are transferred by the remitting bank. The beneficiary bank has to credit the beneficiary's account within .......... of receiving the funds transfer message

1) 5 minutes 
2) 10 minutes
3) 60 minutes 
4) 30 minutes
5) 90 minutes

24. Which of the following statement is wrong relating to RTGS?

1) remitting bank receives a message from the Reserve Bank that money has been credited to the receiving bank
2) remitting customer get back the money if it is not credited to the beneficiary's account
3) remitting customer does not get back the money if it is not credited to the beneficiary's account
4) All inward RTGS transactions free
5) IFSC Number of the receiving branch must be mentioned by transferor

25. IMPS is an innovative real time payment service that is available round the clock. In this context, IMPS stands for............

1) Indian Payment Service
2) Instant Payment Service
3) Immediate Portion Service
4) Immediate Payment Service
5) Immediate Patent Service

26. Which of the following one is not the advantage of IMPS?

1) instant transfer
2) Available 24 × 7 (functional even on holidays)
3) Channel Independent can be initiated from Mobile/ Internet / ATM channels
4) Safe and secure, easily accessible and cost effective
5) All of above are the advantages of IMPS

27. Both banked as well as un-banked customer can avail IMPS. However, unbanked customer can initiate IMPS transaction using the services of PPI. PPI in this context stands for...........

1) Principle Paid Payments instrument issuer
2) Pre Paid Payments instrument issuer
3) Pre Paid PAN instrument issuer
4) Post Paid Payments instrument issuer
5) Pre Poll Payments instrument issuer

28. MMID issued by the bank. Combination of Mobile number & MMID is uniquely linked with an Account number and helps in identifying the beneficiary details. MMID stands for............

1) Mode Money Identifier
2) Mobile Made Identifier
3) Mobile Money Identifier
4) Mobile Moment Identifier
5) Mobile Money Indication

29. QSAM (Query Service on Aadhaar Mapper) service helps user in knowing their Aadhaar Seeding status with their bank account. QSAM service can be available by dialing which number?

1) *99# 
2) *99*99# 
3) *100#
4) *99*9# 
5) *1234#

30. India has recently donated how much amount to UN Peace Building Fund (PBF)?
1) $4 Lakh

2) $5 Lakh
3) $6 Lakh
4) $8 Lakh
5) None of these

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

Sunday, July 2, 2017


1. Which denomination note was the first paper currency issued by RBI in January 1938?
1) Rs.2
2) Rs.5
3) Rs.10
4) Rs.100
5) Rs.1000

2. The central govt recently kickstarted Regional Air Connectivity Scheme (RCS) by awarding 128 regional routes to five airlines. Which of the following is NOT among these five airlines?
1) Air Deccan
2) Spice Jet
3) Alliance Air
4) Turbo Megha
5) None of these

3. The World Health Day is a global health awareness day celebrated every year on...
1) 1 Apr
2) 3 Apr
3) 5 Apr
4) 7 Apr
5) 8 Apr

4. On which one of the following issues can SEBI penalize any company in India?
A. Violation of Banking Regulation Act
B. Violation of Foreign portfolio of investment guidelines
C. For violation of Negotiable Instrument Act.
1) Only A
2) Only B
3) Only C
4) Only A & B
5) Only B & C

5. MEITY has issued draft Information Technology (Security of Prepaid Payment Instruments) Rules 2017 for Prepaid Payment Instruments (PPI) company or e-wallet firms. What is the form of MEITY?
1) Ministry of Electronics and Information Technology
2) Ministry of Electronics and Information of Technology
3) Ministry and Electronics and Information Technology
4) Ministry of Electronics and Information Technique
5) None of these

6. The German Development Bank (KfW) and Uttar Pradesh based Energy Efficiency Services Limited (EESL) has signed a loan agreement for ......... million with a four year moratorium and a 12-year repayment period and where is the headquarter of 'The German Development Bank (KfW)'?
1) 200 million and Frankfurt
2) 100 million and Hamburg
3) 500 million and Berlin
4) 100 million and Frankfurt
5) 200 million and Berlin

7. How much amount of assistance would be provided to the National Agricultural Market (e-NAM) as per the Union Budget 2017-18?
1) Rs.65 lakhs
2) Rs.69 lakhs
3) Rs.75 lakhs
4) Rs.72 lakhs
5) Rs.80 lakhs

8. Under Pillar-2 of Basel III, the banks are to have a Board approved ICAAP and assess capital accordingly. ICAAP stands for
1) Internal Capital Adequacy Assessment Procedure
2) Internal Capital Approval Assessment Process
3) Internal Capital Adequacy Assessment Process
4) Internal Capital Assessment Approved Process
5) None of these

9. Who among the following has been appointed as the new chairman of the National Association of Software and Services Companies (NASSCOM) for 2017-18?
1) R. Chandrashekhar
2) Rishad Premji
3) Vishal Sikka
4) Raman Roy
5) Shiv Nadar

10. Which bank has planned to open up the Unified Payment Interface (UPI) platform for digital wallets firms as part of the government's digitization campaign?
1) SBI
2) RBI
3) ICICI Bank
4) Axis Bank
5) HDFC Bank

11. What percent of surcharge on income tax would be levied on individuals with income between Rs.50 lakhs and Rs.1 crore?
1) 5 percent
2) 7 percent
3) 8 percent
4) 9 percent
5) 10 percent

12. Gross domestic product is a measure of the total value of all
1) consumer income in an economy over a period of time
2) capital accumulation in an economy over a period of time
3) sales in an economy over a period of time
4) final goods and services produced in an economy over a period of time
5) final as well as intermediate goods and services produced in an economy over a period of time

13. The International Hockey Federation (FIH) recently confirmed Kalinga Stadium as the host of the Men's Hockey World League Final in Dec 2017. The stadium is situated in
1) Patna
2) Lucknow
3) Bhubaneswar
4) Bhopal
5) Chandigarh

14. Periyar National Park is also known as 'God's own country'. It is one of the most famous national parks of southern India and was established in 1950, covering an area of 925 square km. It is situated in
1) Odisha
2) Andhra Pradesh
3) Tamil Nadu
4) Kerala
5) None of these

15. According to the norms prescribed by RBI for setting up of white label ATMs, what is the minimum net worth the NBFCs should have?
1) Rs.50 crore
2) Rs.75 crore
3) Rs.100 crore
4) Rs.200 crore
5) Rs.150 crore

16. Which state government has launched 'Tirtha Darshan' scheme for senior citizens?
1) Kerala
2) Rajasthan
3) Haryana
4) Madhya Pradesh
5) None of these

17. The Indian Space Research Organization (ISRO) has successfully launched a record 104 satellites from the Satish Dhawan Space Centre (SDSC) in Sriharikota, Andhra Pradesh through which launch vehicle?
1) PSLV C-36
2) PSLV C-37
3) PSLV C-38
4) PSLV C-39
5) None of these

18. 'Relationship beyond banking' is a Tagline of which bank?
1) Dena Bank
2) Bank of Baroda
3) Central Bank of India
4) Bank of India
5) SBI Bank

19. The minimum amount of and multiple of commercial paper should be:
1) Rs.1 lac, Rs.1 lac
2) Rs. 1 lac, Rs. 5 lac
3) Rs. 5 lac, Rs. 5 lac
4) Rs. 5 lac and no multiple
5) None of these

20. Who won the 2017 Brisbane International Women's Doubles title?
1) Sania Mirza and Bethanie Mattek
2) Serena Williams and Venus Williams
3) Bethanie Mattek and Chris Evert
4) Sania Mirza and Martina Hingis
5) Sania Mirza and Serena Williams

21. The Bhavani Sagar Dam constructed across Bhavani River, is located in .....
1) Odisha
2) Karnataka
3) Tamil Nadu
4) Kerala
5) None of these

22. Leading global payments and technology firm, Mastercard is set to provide payments processing solution to which Payments Bank and who is the CEO of Mastercard?
1) Indian Post Payment Bank and Ajaypal Singh Banga
2) Airtel Payment Bank and Richard Haythornthwaite
3) Paytm Payment Bank and Richard Haythornthwaite
4) Airtel Payment Bank and Ajaypal Singh Banga
5) Paytm Payment Bank and Alfred F. Kelly

23. What is Net Interest Income (NII)?
1) Difference of interest earned on assets and non-interest income.
2) Difference of assets and liabilities.
3) Difference of interest earned on assets and Interest paid on liabilities.
4) Both (1) and (2)
5) None of the above

24. Where is the headquarter of Deutsche Bank?
1) Singapore
2) Russia
3) France
4) Germany
5) None of these

25. Who has been appointed as the managing director of Life Insurance Corporation of India and where is the headquarter of LIC?
1) Hemant Bhargava and Mumbai
2) Girish Chandra Murmu and New Delhi
3) Alice G. Vaidyan and Gujarat
4) Hemant Bhargava and New Delhi
5) Alice G. Vaidyan and Mumbai

26. India's ranking in the current Travel and Tourism Competitive Index (TTCI) of the World Economic Forum is
1) 65th
2) 40th
3) 52nd
4) 62nd
5) 33rd

27. Many times, we read in newspapers that a company is planning to bring a public
issue. What does it mean?
I. Shares of the company will be issued only through public sector organizations like banks/ central financial institutions etc.
II. Shares of the company will be issued to general public only through primary market.
III. This means some stakeholders/promoters are willing to leave the company.
Hence, they wish to sell their stock to the general public.
Select the correct answer using the codes given below
1) Only I
2) Only II
3) Only III
4) All of the above
5) None of the above

28. Name the noted Gujarati poet and ghazal writer, has passed away in Ahmedabad, Gujarat.
1) P V Modi
2) Surender Modi
3) Chinu Modi
4) Ved Prakash Modi
5) None of these

29. Which bank has received medals in the Collateral Awards Category at the 11th Global Communication Conclave held in Bengaluru?
1) ICICI Bank
2) Bank of Baroda
3) Canara Bank
4) South Indian Bank
5) Axis Bank

30. Treasury Bills means
1) salary bills drawn by Government officials on the treasury
2) bills drawee by the Government contractors and other suppliers on the treasury for the dues owed to them by the Government
3) obligation of the Government of India issued by the Reserve Bank of India and payable normally 91 days after issue
4) a mode of drawings by the Treasury Office on the Reserve Bank of India
5) None of the above

31. The International Day of Forests is observed every year on which date to celebrate and raise awareness of the importance of all types of forests and of trees outside forests for the benefit of current and future generations and what is the theme of 2017 The International Day of Forests?
1) March 20 and Forests and Animals
2) March 21 and Forests and Greenery
3) March 20 and Forests and Energy
4) March 18 and Forests and Greenery
5) March 21 and Forests and Energy

32. The Reserve Bank of India (RBI) has proposed to cap the upper limit for Pre-paid Payment Instruments at Rs. ........ lakh due to the growing usage of PPIs for purchase of goods and services as well as funds transfer.
1) Rs.5 lakh
2) Rs.1.5 lakh
3) Rs.1 lakh
4) Rs.2 lakh
5) Rs.3.5 lakh

33. Which life Insurance launched iSelect term plan to expand its online product suit and iSelect term plan provides enhanced protection cover for the family at an affordable premium?
1) Bajaj Allianz General Insurance
2) Canara HSBC and Oriental Bank of Commerce Life Insurance
3) ICICI Prudential Life Insurance
4) PNB MetLife India Insurance Company Limited
5) Reliance General Insurance

34. Who among the following won the 2017 Chinese Grand Prix F1 championship?
1) Kimi Raikkonen
2) Daniel Ricciardo
3) Lewis Hamilton
4) Max Verstappen
5) Sebastian Vettel

35. Which institution is known as 'soft loan window' of the World Bank?
1) IFC
2) IDA
3) IMF
4) Indian Development Forum
5) None of these

36. The Digital Payments 2020 report said that digital payment industry in India is expected to reach USD 500 billion by 2020. The report was published by which of the following institutions?
1) Google and World Bank
2) World Bank and UNESCO
3) Google and Boston Consulting Group
4) UNESCO and Boston Consulting Group
5) All of these

37. Name the India's most successful Badminton player, who has been appointed as a new member of the governing body of Sports Authority of India (SAI).
1) Jwala Gutta
2) Saina Nehwal
3) PV Sindhu
4) Ashwini Ponnappa
5) None of these

38. Who was appointed as deputy governor of Reserve Bank of India (RBI) for three years?
1) Viral Acharya
2) Surekha Marandi
3) N. S. Vishwanathan
4) B.P. Kanungo
5) None of these

39. How much amount has been proposed by the government in the Union Budget 2017 for each pregnant woman under maternity Benefit Scheme who undergoes institutional delivery and vaccinates their children?
1) Rs.4,500
2) Rs.5,000
3) Rs.7,000
4) Rs.6,000
5) Rs.10,000

40. Many economists, bankers and researchers in India often advocate that banks should equip themselves for new challenges. These challenges are in which of the following shapes/ forms?
I. As India economy is getting increasingly integrated with the rest of the world the demand of the Corporate banking is likely to change in terms of size, composition of services and also the quality.
II. The growing foreign trade in India will have to be financed by the local banks.
III. Foreigners are habitual of the comforts provided by the technology. India has to do a lot in this Reference.
1) Only I is correct
2) Only II is correct
3) Only III is correct
4) All of the above
5) None of the above

41. Which of the following films won the Best Picture Oscar at the 89th Academy Awards?
1) Moonlight
2) Manchester by the Sea
3) La La Land
4) Fences
5) The Salesman

42. Rohan Bopanna recently lifted the men's doubles crown of the 2017 Monte Carlo Masters Tennis tournament with his partner ....
1) Marcin Matkowski
2) Jeevan Nedunchezhiyan
3) Marc Lopez
4) Feliciano Lopez
5) Pablo Cuevas

43. Togrog is the currency of which of the following countries?
1) Malaysia
2) Mongolia
3) Venezuela
4) Cambodia
5) Zambia

44. The IRDAI has reduced premium rates of motor third party insurance for some categories of vehicles for 2017-18. The present Chairman of IRDAI is
1) Yogesh Aggarwal
2) TS Vijayan
3) VK Sharma
4) Ajay Tyagi
5) UK Sinha

45. India is pegged to be the fastest growing economy in the world in 2017-18 as International Monetary Fund (IMF) retains India's growth forecast for FY18 at
1) 6.9%
2) 7.2%
3) 7.4%
4) 7.6%
5) 7.8 %

46. Which of the following tech giants introduced 'Solve for India' campaign aimed at empowering developers from Tier II cities?
1) Microsoft
2) Facebook
3) Google
4) Twitter
5) Yahoo

47. The World Red Cross Day is observed every year on
1) 1 May
2) 8 May
3) 18 May
4) 28 May
5) 31 May

48. The world's tallest tower, Jeddah Tower, which is to rise more than a kilometre (almost 3,300 feet), is coming up in which country?
1) Iran
2) Saudi Arabia
3) Kuwait
4) Bahrain
5) UAE

49. Private lender Kotak Mahindra Bank is planning to raise about Rs.5,662 cr through sale of 62 mn shares through QIP. Expand the term QIP.
1) Qualitative Institutional Placement
2) Quantitative Institutional Placement
3) Qualified Institutional Placement
4) Quick Institutional Placement
5) None of these

50. Ritu Phogat, who won a bronze medal at the Asian Championship, is associated with
1) Weightlifting
2) Boxing
3) Wrestling
4) Shot Put
5) Javelin Throw


1-2, 2-5, 3-4, 4-2, 5-1, 6-1, 7-3, 8-3, 9-4, 10-2
11-5, 12-4, 13-3, 14-4, 15-3, 16-3, 17-2, 18-4, 19-3, 20-1
21-3, 22-4, 23-3, 24-4, 25-1, 26-2, 27-2, 28-3, 29-3, 30-3
31-5, 32-3, 33-2, 34-3, 35-2, 36-3, 37-1, 38-4, 39-4, 40-1
41-1, 42-5, 43-2, 44-2, 45-2, 46-3, 47-2, 48-2, 49-3, 50-3

Goods and Services Tax (GST)

GST is a unified taxation system which would end multiple taxation across the states and create a level playing field for businesses throughout the country, much like the developed nations. It is a multi-stage destination-based tax which will be collected at every stage, starting from procuring the raw material to selling the final product. The credit of taxes paid at the previous stage(s) will be available for set-off at the next stage of supply. Being destination or a consumption based, the GST will also end multiple taxes levied by Centre and the State Governments like Central Excise, Service Tax, VAT, Central Sales Tax, Octroi, Entry Tax, Luxury Tax and Entertainment Tax etc.  This will lower the overall tax burden on the consumer and will benefit the industry through better cash flows and working capital management. Currently, 17 State and Central levies are being applied on goods as they move from one State to the other.


Different estimates peg the net advantage to the Gross Domestic Product, up to two percentage points.  The GST regime is also expected to result in better tax compliance, thereby increasing its revenue and narrowing the Budget deficit. All the imported goods will be charged Integrated Goods & Services Tax (IGST) which is equivalent to the Central GST + State GST. This will bring equality with taxation on local products.

Mainly, there will be three types of taxes under the GST regime: Central Goods and Services Tax (CGST), State (or Union Territory) Goods and Services Tax (SGST) and Integrated Goods and Services Tax (IGST). Tax levied by the Centre on intra-State supply of goods or services would be called the CGST and that to be levied by the States and Union Territories(UTs) would be called the SGST respectively. The IGST would be levied and collected by the Centre on inter-State supply of goods and services. Four supplementary legislations approving these taxes, namely the Central GST Bill, the Integrated GST Bill, The GST (Compensation to States) Bill, and the Union Territory GST Bill were passed by the Lok Sabha in May this year, making the realisation of 1st July, 2017 deadline a reality.

All the matters related to the GST are dealt upon by the GST Council headed by the Union Finance Minister while all the State Finance Ministers are its Members. The GST Council also has a provision to adjudicate disputes arising out of its recommendation or implementation thereof.


The GST Council has fixed four broad tax slabs under the new GST system - 5 per cent, 12 per cent, 18 per cent and 28 per cent. On top of the highest slab, there is a cess on luxury and demerit goods to compensate the States for revenue loss in the first five years of GST implementation. Most of the goods and services have been listed under the four slabs, but a few like gold and rough diamonds have exclusive tax rates. Also, some items have been exempted from taxation. The essential items have been kept in the lowest tax bracket, whereas luxury goods and tobacco products will invite higher tax.


Many countries in the world switched to a unified taxation system very early. France was the first country to do so in 1954 and many others followed, some by implementing GST and others by using a different form of Value Added Tax (VAT). In India, the discussion on GST started in the year 2000, in the NDA Government led by the former Prime Minister, Shri Atal Bihari Vajpayee. Finally, after 17 years of consensus building, 101st Constitution Amendment Bill was passed by Parliament in 2016. The States had apprehension of reduction in their revenue and their desire to keep some lucrative goods out of the GST baskets like alcohol, petroleum and real estate among others.


From agarbattis (incense sticks) to luxury cars - all these goods will be taxed under different slabs. Movie tickets costing less than Rs 100 have been kept in the 18% GST slab while those over Rs 100 will attract 28% tax under GST. Tobacco products have been kept under a higher tax bracket. Industries such as textiles and, gems and jewellery are subject to a GST rate of 5%

The Government has shown its strong determination and stuck to implementing the GST with effect from 1st July, 2017. The road ahead would require a lot of resolve by the implementing agencies like the Goods and Services Network, states and the industry.    To sail through initial hiccups and successfully steer the ship of the economy, the Government needs to show the same determination and courage. A bold initiative like GST taken for the welfare of the country must lead to a grand success.