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Banking and Economy Current Affairs Quiz - December 2016

Home > Current Affairs > Banking and Economy Current Affairs Quiz - December 2016

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1. Government allowed NABARD to disburse loan of Rs. 21,000.00 crore in form of concessional refinance to State Cooperative Banks on behalf of District Central Cooperative Banks (DCCBs) in order to enable them to meet crop loan requirements of farmers. It is part of a fund namely STCRC (________________________) Fund for providing concessional short term refinance to Cooperative Banks, with size 45000 Crores for 2016­17 ?

Short Term Cooperative Rural Credit
Short Term Concessional Rural Credit
Simple Term Concessional Rural Credit
Short Term Combined Rural Credit
None of These


2. 3.6 Crore Farmers (approx ____________ of farmer population in India) have been provided Crop Insurance under Pradhan Mantri Fasal Bima Yojana (PMFBY) launched in 2016. Sum insured is of Rs. 141339 crores ?

36.5 %
46.5 %
26.5 %
56.5 %
None of These


3. According to a United Nations Economic and Social Commission for Asia and the Pacific’s (ESCAP) report, India’s economic growth will be _______ in 2017 ?

6.2 %
8.6 %
6.6 %
7.6 %
None of These


4. ____________ merged its wholly owned subsidiary AllBank Finance (ABFL) with itself. ?

Bank of India
Canara Bank
Bank of Baroda
Corporation Bank
Allahabad Bank


5. ___________ Government launched Purse mobile application to promote digital transactions. It features 13 mobile banking and 10 mobile wallet options, helping people can pay their bills and carry out their cashless transactions ?

Telengana
Odisha
Andhra Pradesh
West Bengal
None of These


6. Asian Development Bank (ADB) lowered its growth forecast for 2016 for Indian economy to _________ , from 7.4% earlier. Growth forecast for 2017 is 7.8%. ?

7.0%
6.0%
6.5%
5.4%
None of These


7. Cabinet committee on economic affairs (CCEA) approved Exiting 7 Loss Making Central PSUs (sale of 100 % of Government Equity), including Scooters India, Pawan Hans and Hindustan Newsprint Limited. Government will also sell 26% stake in _______________, reducing its stake from 54% to 28 % ?

BEL
Bharat Earth Movers Ltd
BHEL
SAIL
None of These


8. Central Government provided Special Assistance of Rs. 450 crores to ____________ state for 2016­17 ?

Telengana
Andhra Pradesh
Jharkhand
Chhattisgarh
None of These


9. Cyber security agency CERT­In cautioned against various attacks on micro ATMs and Point of Sale (POS) terminals, including _____________, Malware Injection. ?

Skimming
Phishing
Hacking
Fishing
None of These


10. Department of Industrial Policy & Promotion (DIPP) revised NEIIP (___________________) 2007, for mandatory disbursal of subsidies payable to all industrial units in northeast through Direct Benefit Transfer (DBT) mechanism by Chief Controller of Accounts (Industry) ?

New East Industrial and Investment Promotion Policy
New Economic Industrial and Investment Promotion Policy
Native Economic Industrial and Investment Promotion Policy
North East Industrial and Investment Promotion Policy
None of These


11. E­Commerce Firm _________ announced Each one, teach one campaign to encorage users to teach others to use its products , with several prizes including 1 Crore Rs mega Prize ?

Freecharge
Mobikwik
Snapdeal
PayTm
None of These


12. Employees Provident Fund Organisation (EPFO) lowered interest rate on provident fund deposits to _____________ for the current fiscal, from 8.8% in 2015­16. ?

8.75%
8.65%
8.55%
8.45%
None of These


13. _____________ tied up with Spice Digital for cash management services through bank’s e­collection facility. 20,000 retail outlets of Spice Digital can now remit its cash collection at its branches ?

HDFC Bank
SBI
AXIS Bank
ICICI Bank
Federal Bank


14. Government announced package of incentives for promotion of digital and cashless economy ­

  • Petroleum companies will offer a discount of _______________ on diesel and petrol on digital payments.
  • .5% discount for buying monthly seasonal tickets in Suburban railway networks through digital payment.
  • Payments through digital mode for railways catering, accommodation, retiring room will also attract 5% discount.
  • People will be get 10% discount on General Insurance and 8% discount on new life Insurance policies of PSUs purchased online.
  • Discount of 10% will be available to users for payment of toll at Toll Plazas on National Highways.
  • NABARD will extend financial support of 228 Crores to eligible banks for deployment of two Point of Sale (PoS) devices each in 1 Lakh villages with population of less than 10,000.
  • NABARD will also support Rural Regional Banks (RRBs) and Cooperative Banks to issue Rupay Kisan Cards to over 4 crore 32 lakh Kisan Credit Card (KCC) holders to enable them to make digital transactions.
  • No service service charge on digital transactions upto INR 2000.
  • All state Government Departments will make Electronic Payments to suppliers, contractors or institutions, on orders exceeds Rs 5000 ?
0.75%
1.75%
7.5%
5%
None of These


15. Government approved ordinance to allow states and industries to pay workers’ wages digitally (through direct bank transfer or cheque), by amending Section 6 of Payment of Wages Act 1936, that states that all payment of wages should be in cash. It will allow industries to pay wages to workers earning up to Rs. __________________ / month, without taking their explicit consent as required under Payment of Wages Act 1936 ?

12,000
15,000
22,000
18,000
None of These


16. Government launched Aadhaar Payment App to simplify digital transactions by doing away with need of carrying plastic cards and point of sale machines. It has been developed by _____________ along with UIDAI and National Payments Corporation of India. ?

HDFC Bank
AXIS Bank
IDFC Bank
ICICI Bank
None of These


17. Government launched Lucky Grahak Yojana to encourage consumers and Digi Dhan Vyapar Yojana to encourage merchants for transition to digital payments (USSD, UPI, RuPay and AEPS), launched by NITI (National Institution for Transforming India) Aayog. National Payment Corporation of India (NPCI) will be implementing agency. Digital payments made through credit cards and e­wallets won’t be covered. Incentives will be restricted to transactions within the range of Rs 50 and Rs 3000.

Lucky Grahak Yojana ­ Consumers making payment through digital mode will get chance to win minimum Rs 1000 each every day or Rs 1 lakh per week. 15,000 winners will get cashback prizes of Rs 1000 each every day starting on 25 December 2016 (Christmas) and ending on 14 April 2017 (Babasaheb Ambedkar Jayanthi). On last day of scheme mega prize winner award of ______________ will be announced.

Digi Dhan Vyapar Yojana - This scheme is for prmoting merchants to have POS (Point of Sale) machines for undertaking cashless transactions ?

Rs 10 Crore
Rs 1 Crore
Rs 10 Lakh
Rs 50 Crore
None of These


18. Government provided additional grace period of 60 days to farmers, whose crop loan dues fall due between 1st November, 2016 and 31st December, 2016 Following demonetization of Bank Notes. Government provides crop loans at subvented rates of interest @ ______________ per annum. On prompt repayment in first year, farmers are eligible for further subsidized rate of Interest of 4 % per annum ?

6 %
7 %
5 %
8 %
None of These


19. Government will roll out PFMS (_______________) from April 2017, along with Goods and Services Tax (GST). It will allow government to monitor over than Rs.1 lakh crore of idle funds lying with it under various heads. Once government access these funds through PFMS, it need does not need to borrow that amount ?

Pure Financial Management System
Property Financial Management System
Public Fuel Management System
Public Financial Management System
None of These


20. Government will amend Reserve Bank of India Act __________ to extinguish (stop) validity of old Rs 500 and Rs 1000 ?

1934
1932
1936
1914
None of These

 

21. Government will soon launch toll­free helpline number ‘__________’ to promote digital payments ?

14444
25555
36666
47777
None of These


22. __________________Government issued state's Aerospace and Defence Policy 2016 to attract investment in aerospace and defence. It entitles several facilities including 100% reimbursement on stamp duty and registration charges paid for purchase, lease or mortgage of land meant for setting up facility in Aerospace and Defence ?

Rajasthan
Gujarat
Gujarat
Goa
None of These


23. HDFC received permission from Reserve Bank of India (RBI) to raise Rs. ____________ crore by issuing ‘masala bonds’, after it exhausted a Rs. 5,000 crore limit to issue these bonds. Through ‘masala bond’ route, an Indian company raises money overseas denominated in Indian rupees ?

1,000
2,000
4,000
3,000
None of These


24. ___________ launched EazyPay mobile application for merchants that allows all­in­one acceptance payments platform. It has all digital wallets, QR code, Unified Payments Interface (UPI), and credit & debit cards modes of payments ?

HDFC Bank
Axis Bank
Yes Bank
IDFC Bank
ICICI Bank


25. In 2015­16, India received maximum Foreign Direct Investment (FDI) inflows from _____________ ($13.69 Billion) followed by Mauritius, USA, he Netherlands and Japan. It is stated in a report by PHDCCI and KPMG ?

UAE
UK
Singapore
Russia
None of These


26. In order to absorb extra liquidity, Reserve Bank sharply raised Market Stabilisation Scheme (MSS) ceiling to Rs _____________ from Rs 30,000 crores ?

6 lakh crore
5 lakh crore
4 lakh crore
2 lakh crore
None of These


27. In order to promote cashless transactions, Government directed banks to install _____________ new PoS (Point of Sale) terminals by 31st March 2017 ?

1 Crore
10 Lakh
1 Lakh
50 lakh
None of These


28. India Signed Grant Agreement with IBRD (International Bank for Reconstruction and Development) for USD ______________ for Additional Financing for Financing Energy Efficiency at MSMEs Project­ Programmatic Framework for Energy Efficiency ?

50.19 million
500.19 million
5.19 million
53.19 million
None of These


29. India received over US $310.26 billion US Foreign Direct Investment (FDI) between April 2000 and September 2016, crossing USD 300 Billion Milestone. 33% of FDI came through _______________ route. Other big investors are from Singapore, US, UK and Netherlands. Sector wise ­ Services sector received max 18% of FDI inflows ?

UAE
China
Nepal
Myanmar
Mauritius


30. Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum signed pact to build India's biggest oil refinery at a cost of $30 billion In __________________, with capacity 60­million tonne a year. IOC will hold 50 % stake with BPCL and HPCL holding 25 % each ?

Gujarat
Goa
Maharashtra
Rajasthan
None of These


31. Indian Railways tied­up with ______________ to install 10000 Point of Sale (POS) machines at Public Reservation System (PRS) counters of Railways ?

ICICI Bank
AXIS Bank
HDFC Bank
State Bank of India
None of These


32. Indian e­commerce Firm _________ launched toll­free number 1800­1800­1234 to enable transaction through mobile phones without internet connection ?

Snapdeal
Paytm
Fipkart
OLA
None of These


33. MMTC(Metals and Minerals Trading gold Corporation) tied up with ___________ to sell government­minted Indian Gold Coin(24 Karat), which will be available in denominations of 5gm, 10gm and 20 gm bar ?

State Bank of India
ICICI Bank
AXIS Bank
HDFC Bank
None of These


34. MoU signed between NTPC and National Aluminium Company Limited (NALCO) for setting up a Joint Venture (JV) Company to establish a 2400 MW coal based power project in Dhenkanal (____________) ?

Chhattisgarh
Jharkhand
West Bengal
Goa
Odisha


35. Private insurer ___________ forayed into micro­insurance segment by launching two products, Jeevan Suraksha and Credit Suraksha. ?

Bajaj Allianz
HDFC Life
Indiabulls
ICICI Lombard
None of These


36. _____________ launched 'Aadhaar Payment Bridge System' (APBS) for small ticket micro­finance loan disbursements. ?

RBL Bank
ICICI Bank
KVB
Saraswat Bank
None of These


37. Reserve Bank of India (RBI) announced that Foreign exchange reserves of India has declined by 887.2 million dollars to approx ______________ billion dollars due to fall in foreign currency assets. ?

393
383
343
353
363


38. Reserve Bank of India (RBI) capped Merchant Discount Rates (MDR) for debit card transactions up to Rs. 1,000 at 0.25% and for transactions above Rs. 1,000 and up to Rs. 2,000 at 0.5% in order to incentivise greater adoption of digital payment methods.

RBI also asked banks and prepaid payment instrument (PPI) issuers not to levy any charges for transactions upto Rs. 1000 settled using Immediate Payment Service (USSD) based *99# and UPI (________________) system ?

Unified Payment Interface
Universal Payment Interface
Unified Payment Institution
Universal Payment Institution
None of These


39. Reserve Bank of India (RBI) opened a banking ombudsman office in Dehradun, Uttarakhand. It is third ombudsman office in North India after Kanpur and Chandigarh. With this, the total numbers of RBI ombudsman offices are increased to __________ ?

15
17
18
19
None of These


40. Reserve Bank of India (RBI) will issue _______________ rupee banknotes in Mahatma Gandhi New series with inset letter E having star mark in number panel. This will be for the first time star banknotes in ____________ rupees denomination will be issued. RBI will issue new currency notes of rupees 20 and 50 denominations in Mahatma Gandhi Series­2005?

2000
1000
100
10
500


41. Reserve Bank of India authorised _________________ (promoted by Sidbi and NSE) to launch India's first trade receivables exchange platform for MSMEs, buyers and financiers ?

MCX
Receivables Exchange of India
NSE
BSE
None of These


42. State Bank of India (SBI) adopted Shirki village in _______________ for driving the Aadhaar­based merchant payment initiativE ?

Gujarat
Maharashtra
Goa
Rajasthan
None of These


43. _________________ launched State Bank MobiCash Mobile Wallet, in association with Bharat Sanchar Nigam Limited . MobiCash will allow smartphone users to deposit cash through BSNL retail outlets and withdraw funds from their account ?

SBI
ICICI Bank
HDFC Bank
Axis Bank
None of These


44. Tata Steel acquired 100% equity in ____________ ­based Brahmani River Pellets (BRPL) for Rs 900 crores ?

Chhattisgarh
Jharkhand
West Bengal
Goa
Odisha


45. ______________________ adopted Patunagar and Sachindranagar Villages in Tripura state, to turn them completely cashless. ?

SBI
United Bank of India
Indian Bank
OBC
None of These


46. _______________ Partnered with Cab aggregator Ola and e­commerce Firm Grofers, to provide cash­on­demand to customers ?

YES Bank
ICICI Bank
HDFC Bank
Axis Bank
None of These


47. ___________ launched SIMsePAY service that allows any account holder to do money transfers, pay utility bills and other mobile banking services, without need for smart phones or internet, based on sim­sleeve technology ?

SBI
HDFC Bank
ICICI Bank
KVB
Yes Bank


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