Banking and Economy Current Affairs Quiz - February 2015

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1. In the Union Budget 2015-16, The fiscal deficit is targeted to be kept under ____ % of GDP?

2.9%
3.9 %
1.9%
4.9%
5.9%


2. Government decided abolition of wealth tax and put Additional ___ surcharge for the super rich with income of over Rs. 1 crore. ?

1%
2%
3%
4%
5%


3. Government decided to bring Corporate tax down to ____ from 30% over the next 3 year period.?

20%
15%
23%
25%
10%


4. In the union Budget 2015-16, there are No changes in individual income tax rates and slabs, however overall deduction benefits to individual taxpayers hiked to Rs _____ lakh a year.?

4.44
5.55
3.33
2.22
6.66


5. Government announced 100 % deduction on investment in Swachh Bharat Kosh along with _____ Swachh Bharat cess on Service Tax ?

2 %
3 %
4 %
5 %
None of These


6. In the Union Budget 2015-16, Excise duty is up to 12.5 % and and service tax Increased to ______ (From 12.36 %).?

13 %
14 %
15 %
16 %
17 %


7. Goods and Services Tax (GST) is to implemented by ______.?

April 2017
April 2015
April 2018
April 2016
None of These


8. As per Union Budget 2015, Implementation of GAAR (________) has been deferred by 2 Years.?

General Anti Acceptance Rule
Global Anti Avoidance Rule
Global Anti Acceptance Rule
General Average Avoidance Rule
General Anti Avoidance Rule


9. In the Union Budget 2015-16, Government approved Rs. ______ Investment for Rural Infrastructure Development Bank.?

50,000 crore
15,000 crore
25,000 crore
10,000 crore
100,000 crore


10. In the Union Budget 2015-16, Government approved Rs. ______ to support Micro Irrigation Programme.

5,300 crore
6,000 crore
6,500 crore
7,500 crore
None of These


11. In the Union Budget 20415-16, Government approved Hiking the Credit to be given to farmers to _____ ?

7.5 Lakh Crores
8.5 Lakh Crores
9.5 Lakh Crores
10 Lakh Crores
11.5 Lakh Crores


12. In the Union Budget 2015-16, Government allotted _______ to be spent on improvments in Infrastructure sector ?

50000 Crores
90000 Crores
70000 Crores
100000 Crores
150000 Crores


13. Government will start ______ to draw on expertise of entrepreneurs, and researchers to foster scientific innovations with allocation of Rs. 150 crore.?

Atal Swarojgar Mission
Atal Skill Development Mission
Atal Swawlamban Mission
Atal Kaushal Vikas Mission
Atal Innovation Mission


14. In the Union Budget 2015-16, Government decided to Set up 5 ultra mega power projects, each of ____ capacity with total investment of Rs. 1 Lakh Crores.?

2000 MW
3000 MW
4000 MW
5000 MW
10000 MW


15. Government will set up _____ with annual flow of Rs.20,000 crores to help infrastructure finance companies leverage extra equity from the funds and use it to erect infrastructure.?

National Innovation and Infrastructure Fund
National Investment and Innovation Fund
National Incubation and Infrastructure Fund
National Investment and Infrastructure Fund
None of These


16. Government will start a Techno-Financial, Incubation and Facilitation Programme named SETU (_______________) to support start up businesses particularly in technology-driven areas with initial amount of Rs.1000 crores allotted in NITI (National Institute of Transforming India) Aayog for SETU. ?

Self- Enhancement and Talent Utilisation
Self- Employment and Talent Utilisation
Self- Employment and Technical Utilisation
Self- Employment and Technical Upgradation
None of These


17. In the Union Budget 2015-16, Government announced Upgradation of ISM Dhanbad to IIT and set up a new IIT in ___________ ?

Karnataka
Kerala
Goa
Sikkim
Nagaland


18. In the Union Budget 2015-16, Government announced establising a University of Disability Studies to be formed in ______ .?

Goa
Sikkim
Assam
Meghalaya
Kerala


19. In the Union Budget 2015-16, government announced to set up a Centre of film production, animation and gaming in _____ ?

Andhra Pradesh
Arunachal Pradesh
Assam
Uttar Pradesh
Meghalaya


20. In the Union Budget 2015-16, government announced to set up New IIMs in Jammu - Kashmir and ______. ?

Andhra Pradesh
Karnataka
Kerala
Goa
Sikkim

21. In the Union Budget 2015, Government alloted 246726 Crores rupees to the defence sector, it is ____ % more than previous year's budget allocations for the defence ?

12.8 %
4.8 %
5.8 %
7.8 %
9.8 %


22. In the Union Budget 2015-16, Government will expand reach of DBT (Direct Benefit Transfer) scheme from 1 crore to _____ People ?

10.3 Crore
8.3 Crore
5.3 Crore
4.3 Crore
14.3 Crore


23. In the Union Budget 2015-16, Government made Rs. 5,000 crore additional allocation for MGNREGA this year taking the allotement to all time high amount of __________ ?

40699 Crores
34699 Crores
45699 Crores
26699 Crores
54699 Crores


24. In Union Budget 2015-16, Government announced forming MUDRA (___________) with funds of Rs. 20,000 crore and credit guarantee fund of 3,000 crore to refinance Micro-Finance Institutions ?

Micro Units Deployment Refinance Agency
Macro Units Development Refinance Agency
Macro Units Deployment Refinance Agency
Micro Units Development Reconstruction Agency
Micro Units Development Refinance Agency


25. In the Union Budget 2015-16, Government announced to start Visa on Arrival Facility for _____ Countries. ?

100
150
50
180
190


26. In the Union Budget 2015-16, Government allotted _____ Funds to Nirbhaya fund aimed at Women security ?

10000 Crores
1000 Crores
10 Crores
5000 Crores
500 Crores


27. For students belonging to minorities, a new scheme named _____ will be started ?

Nayi Manzil
Hamari Manzil
Sath Sath Chalein
Swabhimaan
Swawlamban


28. In the Union Budget 2015-16, Government announced that Pradhan Mantra Suraksha Bima Yojana will cover accidental death risk of Rs. 2 lakh for just _____ per year ?

Rs. 120
Rs. 1200
Rs. 1000
Rs. 50
Rs. 12


29. In the Union Budget 2015-16, Government announced Deen Dayal Upadhyay Grameen Kaushal Yojana will be launched to enhance the employability of Rural Youth with capital of ______ ?

15000 Crores
1500 Crores
500 Crores
5000 Crores
100 Crores


30. Government announced to set up‚ an IT Based SFAA (_________) to manage Scholarships and Educational Loan Schemes, through Pradhan Mantri Vidya Lakshmi Karyakram ?

Student Future Aid Association
Student Financial Aid Association
Student Future Aid Authority
Student Financial Aid Authority
None of These


31. Government announced to set up target of generating Total _________ of Renewable energy by 2022 in solar, wind and small hydro energy Forms ?

150 K MW
100 K MW
125 K MW
200 K MW
175 K MW


32. In The Union Budget 2015-16, Government announced to issue gold coins with ______ on its face to reduce the demand for foreign coins and recycle the gold available in the country ?

Ashok Chakra
Vir Chakra
Kirti Chakra
Shaurya Chakra
None of these


33. Government announced merging of Forward Markets Commission with __________ ?

Reserve Bank of India
Securities and Exchange Board of India.
Small Industries Development bank of India
National Bank for Agriculture and Rural Development
Insurance Regulatory and Development Authority of India


34. As per Union Budget 2015-16, NBFC (Non Banking financial Companies) with assets above ____ will be considered financial institutions and will be able to fund SME and mid-corporate businesses ?

1500 crores
5000 crores
100 crores
1000 crores
500 crores


35. As per Union Budget 2015-16, Government has made it compulsory to quote PAN Numbers on sale of above ______ ?

2 Lakh Rupees
1 Lakh Rupees
5 Lakh Rupees
10 Lakh Rupees
6 Lakh Rupees


36. As per Union Budget 2015-16, Government will provide Food, Petroleum and Fertilizers totalling 227000 Crores. It is approx _____ % less than subsidies given the previous year ?

10.2%
5.2%
2.2%
6.2%
15.2%


37. Government has announced to celebrate Year 2022 (75th year of independence) as ______ and has set the target of Housing for all and employment for at least one person in every family by 2022. ?

Sangam Mahotsav
Azaadi Mahotsav
Swaraj Mahotsav
Amrut Samagam
Amrut Mahotsav


38. As per economic Survey 2014-15 presented by Finance Minister Arun Jaitley, Current account deficit will decline from a 6.7 % of GDP in Quarter 3 of 2012-13 to ________ % in 2015-16.?

1 %
2 %
3 %
4 %
4.5 %


39. As per economic Survey 2014-15 report India's GDP Growth rate is expected to stay between _____ % in coming Financial Year 2015-16.

7.1 - 7.5 %
8.1 - 8.5 %
6.1 - 6.5 %
9.1 - 9.5 %
None of These


40. As per economic Survey 2014-15 Report, India's Foodgrains production for 2014-15 is estimated at __________ million tonnes ?

357.07
457.07
157.07
107.07
257.07


41. Railway Minister _____ presented the Railway Budget 2015-16 in the Lok Sabha and outlined a plan to invest over 8 lakh crore rupees over 5 years ?

Arun Jaitley
Suresh Prabhu
Mallikarjun Kharge
Manohar Parrikar
Rajnath Singh


42. As per Railway Budget 2015-16, size of Plan Budget has gone up by ______ to 100011 crore rupees in 2015-16 as compared to budget in 2014-15 ?

32 %
52 %
22 %
72 %
25 %


43. As per rwilway Budget 2015-16, Rail tickets can now be booked _____ days in advance.?

120
90
150
60
180


44. Government to start All india 24/7 Railways helpline 138 from March 2015 and Toll free No._____ for security. ?

100
150
192
200
182


45. Government to set up TRANSLOC (____________) for developing common user facilities to provide end-to-end logistics solution at select Railway terminals through Public Private Partnerships. ?

Transport Logistics Committee of India
Transport Logistics Corporation of India
Transport Linguistics Corporation of India
Transport Linguistics Council of India
None of These


46. As per Railway Budget 2015-16, Government has set up target to attain Operating ratio of ____ in 2015-16?

88.5%
91.5%
80.5%
85.5%
90%


47. As per data by Controller General (CGA) of Accounts, India's fiscal deficit has crossed budget estimate _______ of GDP in 2014-15. ?

5.0 %
4.5 %
3.1 %
5.1 %
4.1 %


48. Cabinet Committee on Economic Affairs approved mandatory packaging of 90 % of foodgrains produced in India and 20 % of sugar in ______ bags for 2014-15 crop season ?

Jute
Polythin
Polymer
Fibre
Cotton


49. EPFO (______) has set up online help desk for tracing inoperative accounts and seek final settlement. There are about 8.15 crore inoperative EPFO accounts with 27000 crore rupees in them.?

Employees' Permanent Fund Organisation
Employees' Provident Fund Organisation
Employees' Povisional Fund Organisation
Employees' Precautional Fund Organisation
None of These


50. Government approved enhancing authorised capital of NMDFC (National Minorities Development & Finance Corporation) to _________ rupees from 1500 crore rupees ?

3500 crore
6000 crore
5000 crore
4000 crore
3000 crore


51. Government approved providing overdraft facility of drawing upto ______ from accounts opened under PMJDY (Pradhan Mantri Jan Dhayn Yojana) with repayment period 3 years and max 2% interest. ?

Rs. 5000
Rs. 6000
Rs. 8000
Rs. 9000
Rs. 10000


52. Government updated the base year for calcutaion of GDP Growth Rate from 2004-05 to ________ . ?

2009-10
2014-15
2010-11
2012-13
2011-12


53. Government's scheme ______ is named as world's largest Cash subsidy transfer scheme under which the cooking gas subsidy gets transferred directly to the bank accounts of 10 crore LPG Users ?

Pehal
Madad
Sajag
Sulabh
None of These


54. _______Launched Mobile App -‚ Chillar App‚ to enable easy transfers of upto 25000 / Month and max 5000 at a time through Mobile App. ?

ICICI Bank
HDFC Bank
Yes Bank
State Bank of India
Axis Bank


55. ______ launched India’s first digital Bank on mobile phone named‚ Pockets to enables transactions on any website or mobile application in India ?

Yes Bank
Kotak Mahindra Bank
AXIS Bank
HDFC Bank
ICICI Bank


56. _______ patnered with global payment solutions company UAE Exchange to offer an instant bank transfer service named FLASHremit. ?

ICICI Bank
Yes Bank
Axis Bank
SBI
Nabard


57. ______ started Funds transfer Through Social network Twitter with ease and speed. ?

Axis Bank
SBI
Yes Bank
Bank of Baroda
ICICI Bank


58. India signed agreement of 8 million USD loan with World Bank for funding SLACC (______)Project. ?

Sustainable Livelihoods and Adaptation to Climate Change
Sustainable Livelihoods and Acceptance to Climate Change
Sustainable Livelihoods and Acclmation to Cause Change
Secure Livelihoods and Adaptation to Climate Change
None of These


59. India's ________ signed co-operation agreement with‚ World Wide Fund (WWF) for Nature - India‚ for its Project - Friends for Life. ?

ICICI Bank
Muthoot Group
IIFCL
Axis Bank
LIC


60. Indian Army and ________ signed a Memorandum of Understanding (MoU) for Defence Salary Package ?

HDFC Bank
Punjab National Bank
Bank of Baroda
Yes Bank
State Bank of India


61. Indian telecom Provider ________ partnered with United Nations Children’s Fund (UNICEF) for providing health, education and youth-focused content to its customers in 17 African countries. ?

Bharti Airtel
IDEA
Aircel
Vodafone
BSNL


62. ________ started social bank accounts with JIFI Saver technology that enables funds transfers to contacts on social networks such as facebook. ?

ICICI Bank
PNB
Axis Bank
HDFC Bank
Kotak Mahindra Bank


63. ______ took over Samsung to became India biggest and world's third largest smartphone vendor by handling 22 % market share in smartphones shipments in India in October-December 2014 as compared to 20 % market share of Samsung ?

Micromax
LAVA
Nokia
Intex
None of These


64. Online shopping portal _____ acquired luxury fashion site Exclusively.com for undisclosed amount ?

Flipkart.com
Snapdeal.com
Jabong.com
Yepme.com
None of These


65. RBI Allowed Gold loan Non Banking Financial Company‚ Muthoot Finance‚ to act as business correspondent for ____. the first time a bank has appointed any NBFC as Business Correspondent ?

SBI
HDFC Bank
ICICI Bank
Axis Bank
Yes Bank


66. RBI removed ban on importing ____ by banks and allowed import of gold on consignment basis. ?

Silver
Diamonds
Gold coins and medallions
Foreign Currencies
None of These


67. Social networking site Facebook tied-up with _______ to offer free internet access to people in India through Facebook's initiative‚ Internet.org. ?

Airtel
BSNL
IDEA
MTNL
Reliance Communications


68. Reserve Bank of India changed ECB (________) norms under which authorised money changing banks have been allowed to create a charge on securities. ?

External commercial borrowings
Examined commercial borrowings
External correspondent borrowings
External contextual borrowings
None of These


69. Reserve Bank of India increased annual overseas investment limit by Indians to ______ per person ?

$200,000
$250,000
$250,0000
$100,000
$50,000


70. Supreme Court directed CBI (Central Bureau of Investigation) to investigate role of Reserve Bank of India (RBI) and SEBI (_________) in the chit-fund scam. ?

Securities and Exchange Bureau of India
Securities and External Board of India
Safety and Exchange Board of India
Safety and Exchange Bureau of India
Securities and Exchange Board of India


71. Tax receipts in April - January period of Financial year 2014-15 Totaled to 1006537 Crores including both Direct and Indirect Taxes. Maximum part (Approx 36%) in this collection is held by ______ ?

Service Tax
Income Tax
Corporate Tax
Customs Duty
Excise Duty


72. In the Governor council meeting of NITI (__________) Aayog, Three sub-groups of Chief Ministers have been made to take care of different aspects ?

National Institution for Testing India
New Institution for Transforming India
National Institution for Transporting India
National Institution for Training India
National Institution for Transforming India


73. Uttar Pradesh Chief Minister Akhilesh Yadav presented State's Budget 2015-16 of 302687 crore rupees. It is approx ______ % more than state's budget for previous year 2014-15 ?

10%
5 %
2 %
20 %
25 %


74. ______ Government launched a Micro Business Credit Card to give boost to MSME sector in the state. Through This, entrepreneurs in the state will be able to avail cash credit up to 5 lakh rupees for their business activities. ?

Uttar Pradesh
West Bengal
Gujarat
Haryana
Rajasthan


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