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Banking and Economy Current Affairs Quiz - February 2017

Home > Current Affairs > Banking and Economy Current Affairs Quiz - February 2017

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1. According to data by Controller General of Accounts, fiscal deficit in first nine months (April‚­December 2016) of FY 2016‚­17 touched ____________ of Budget estimate. In earlier year during same period, fiscal deficit was 87.9% of Budget. Tax revenue so far is 71.4% of the full‚­year budget estimate with expenditure being 74.3% of full‚­year estimate ?

93.9%
83.9%
73.9%
96.9%
None of These


2. 2nd National Conference on Economics of Competition Law organised by Competition Commission of India (CCI) in _____________ ?

Jaipur
Ahmedabad
New Delhi
Chennai
None of These


3. According to data by Department of Industrial Policy and Promotion (DIPP), India received $46 billion foreign direct investment (FDI) in 2016. It is 18% more than $39.32 billion in 2016. Most of FDI came from ________________ followed by Mauritius, Netherlands and Japan ?

Russia
UK
USA
Singapore
None of These


4. Ahmedabad based India’s first listed ecommerce startup Infibeam accquired payment aggregator company __________ for 2000 Crores. ?

Snapdeal
Freecharge
Mobikwik
Paytm
CC Avenue


5. Airtel Payments Bank and Mastercard launched India’s first online debit card along with a prepaid card, accessible via Myairtel App. Online debit card will enable customers of Airtel Payments Bank to make digital payments to online merchants. Airtel was first to launch payment bank operations in November 2016 by launching pilot programme in ____________ ?

Sikkim
Mizoram
Rajasthan
Nagaland
None of These


6. As per India's Central Statistics Office Revised Data, Indian economy expanded by ______________ in 3rd quarter of 2016‚­17, keeping growth projection for current fiscal at 7.1 % (compared to 7.9 % in 2015‚­16. Real GDP (Gross Domestic Product at constant (2011‚­12) prices) in 2016‚­17 is likely to be 121.65 lakh crores (compared to 113.58 lakh crore in 2015‚­16). Real GVA (Gross Value Added) will increase from 104.70 lakh crore in 2015‚­16 to 111.68 lakh crore in 2016‚­17 ?

7 %
7.5 %
7.8 %
8 %
None of These


7. Bancassuranca Tie‚­ups ‚­

  • Apollo Munich Health Insurance ‚­ Dena Bank
  • Cholamandalam General Insurance Company ‚­ Oriental Bank of Commerce
  • Cigna TTK Health Insurance ‚­ Bank of Maharashtra
  • Religare Insurance ‚­ __________
Bank of India
Corporation Bank
United Bank of India
Union Bank of India
None of These


8. Bharti Airtel acquired telecom operator _________ for approx 6,500 crores ?

Telenor India
Vodafone India
Aircel
Idea Telecom
None of These


9. __________ signed MoU with Ministry of Human Resource Development to operationalise Higher Education Financing Agency (HEFA), with authorised capital of INR 2000 crores. HEFA aims to push creation of high quality infrastructure in premier educational institutions (IITs/IIMs/NITs) ?

Canara Bank
SBI
HDFC Bank
Axis Bank
None of These


10. Cash purchases of jewellery (Over ______________) will attract 1% TCS (Tax Collected at Source) from April 1, 2017. After Finance Bill 2017 is passed, jewellery will be treated on par with general goods which attract 1% TCS on cash purchase of above ________________ ?

4 lakh
1 lakh
5 lakh
2 lakh
None of These


11. Catholic Syrian Bank initiated name and shame campaign against wilful defaulters in _________ ?

Manipur
Assam
Karnataka
Kerala
None of These


12. _______________launched instant chat services for its customers, First such customer support service in India by a Bank ?

Axis Bank
Citi Bank
HDFC Bank
SBI
None of These


13. ________________ introduced Radio Frequency Identification Card (RFID) enabled banking cards. It enables branch manager to identify a valued client entering a branch with the card. Client's Info will flash on Manager's desktop as soon as he enters the branch ?

Axis Bank
Kotak Mahindra Bank
HDFC Bank
SBI
Dena Bank


14. Direct‚­to‚­home operator Dish TV signed agreement with ____________ for digital payments, to enable customers to recharge through unified payment interface (UPI) transactions ?

ICICI bank
AXIS Bank
HDFC Bank
SBI
None of These


15. Economic Affairs Secretary Shaktikanta Das announced that Goods and Services Tax (GST) will be implemented from 1st __________, 2017 ?

April
May
June
July
None of These


16. Economic Freedom 2017 released by US based Think Tank The Heritage Foundation ‚­

  • India ranked __________ out of 186 economies with score of 52.6 points, compared to 123rd rank last year.
  • Top 5 ‚­ Hong Kong (1st), Singapore (2nd) and New Zealand (3rd), Switzerland (4th) and Austria (5th).
  • Bottom 5 ‚­ Eritrea (176), Congo (177), Cuba (178), Venezuela (179) North Korea (180)
  • Neighbours ‚­ Nepal (125th), Sri Lanka (112th), Pakistan (141st), Bhutan (107th), and Bangladesh (128th).
  • BRICS ‚­ Brazil (140), Russia (114), China (111th) and South Africa (81)
123rd
133rd
143rd
153rd
None of These


17. _________ partnered with online data and information portal Commodity Online for distribution of loans against warehouse receipts and collateral management services across country ?

SBI
Federal Bank
Axis Bank
HDFC Bank
None of These


18. Government Raised Rs 1670 Crores from 5% Disinvestment of Its 74.41 % Stake in ___________ through Offer for Sale (OFS) ?

BHEL
BEL
GAIL
BEML
None of These


19. Government allocated INR ____________ to India Post Payments Bank for 2017‚­18, to help it in setting up 650 branches by September 2017 ?

2500 crores
2000 crores
1500 crores
500 crores
None of These


20. Government approved Pradhan Mantri Gramin Digital Saksharta Abhiyan (PMGDISHA) to make 6 crore rural households digitally literate by March ______________. Under This, 25 lakh candidates will be trained in 2016‚­17, 27.5 Crore in 2017‚­18 and 30 Crore in 2018‚­19. Outlay for this project is 2,351 crores ?

2019
2018
2025
2020
None of These


21. Government approved extension of tenure of loans under CLSS (____________________) of Pradhan Mantri Awas Yojana (PMAY) to 20 years from 15 years. Scheme is also renamed as CLSS for EWS/LIG (for economically weaker sections (EWS) / Lower Income Group (LIG)). A new CLSS for middle income group with a provision of Rs 1000 crores in 2017‚­18 is also Introduced ?

Credit Linked Subsidy Scheme
Credit Left Subsidy Scheme
Credit Linked Subsequent Scheme
Core Linked Subsequent Scheme
None of These


22. Government approved setting up Electronic Development Fund with total corpus of INR ___________ to support entrepreneurship and innovation in electronics and IT ?

5,831 crores
6,831 crores
4,831 crores
7,831 crores
None of These


23. Government asked all banks to provide mobile banking facility to all customers by _________ 31, 2017. This is part of government’s efforts to boost digital payments ?

October
August
July
March
None of These


24. Government cleared proposal to conduct single entrance test for Admission to all engineering colleges in country, from ___________ onwards. It will replace multiple tests conducted by central agencies, state governments and private institutions. This is similar to National Eligibility‚­Cum‚­Entrance Test launched in 2016, for admission to all medical and dental colleges. Students seeking admission to Indian Institutes of Technology (IITs) will have to clear JEE‚­Advanced after taking unified engineering entrance exam ?

2025
2021
2019
2020
2018


25. Government increased Cash Credit (CC) limit for Micro, Small and Medium Enterprises (MSMEs) to ____________ of turnover (from 20%), to encourage them to conduct businesses digitally ?

35 %
25 %
30 %
40 %
None of These


26. Government shifted responsibility of promoting digital transactions in country to ______________ from NITI (National Institution for Transforming India) Aayog. ?

Ministry of IT and Electronics
Ministry of Finance
Ministry of Economic Affairs
Ministry of Road Transport and Highways
None of These


27. Government sold 2 % stake in ITC to _________________ to raise Rs 6690 crores, under Specified Undertaking of the Unit Trust of India (SUUTI) ?

SBI
Life Insurance Corporation of India
BHEL
SIDBI
None of These


28. Government will invest INR ____________ crores in start‚­ups working on new technologies in electronic sector under Electronics Development Fund (EDF) by 2019 ?

3200
2100
2200
4200
None of These


29. Government will launch Misison Indradhanush 2.0 as plan for recapitalisation of public sector Banks. It will be finalised by RBI after completion of Asset Quality Review (AQR) to be completed by March 2017.

  • It aims to clean up balance sheets of PSBs to ensure they remain solvent and comply with global capital adequacy norms Basel‚­III.
  • In line with plan, PSBs were given Rs. ________________ crore in 2015‚­16 and 2016‚­17. Now, 10,000 crores will be infused in 2017‚­18 and 2018‚­19 ?
35000
30000
20000
15000
25000


30. __________ launched life insurance plan Pragati for low income group families ?

LIC
Bajaj Allianz
HDFC life
Aviva
None of These


31. ______________ collaborated with fintech startup IndiaLends to enable first‚­time borrowers who do not have a credit history to take loans ?

SBI
SIB
HDFC Bank
IDFC Bank
None of These


32. India Post Payments Bank rolled out services in Raipur and Ranchi in __________________. IPPB is 2nd payments bank to start operations after Airtel Payments Bank. It will offer an interest rate of 4.5% on deposits up to Rs. 25,000; 5% on deposits of Rs. 25,000 to 50,000 and 5.5% on Rs. 50,000 to 1,00,00 ?

Jharkhand
Chhattisgarh
Odisha
West Bengal
None of These


33. India Signed Loan agreement with World bank for USD ___________ million for Third Technical Education Quality Improvement Programme (TEQIP III), aimed at enhancing quality and equity in participating Engineering Education Institutes ?

201.50
301.50
401.50
501.50
None of These


34. India and Asian Development Bank (ADB) signed __________ million pact for loans to develop 800 km Visakhapatnam‚­Chennai Industrial Corridor. It is first phase of a planned 2,500‚­km East Coast Economic Corridor ?

$575
$475
$175
$275
$375


35. India signed US$ _____________ million Loan agreement with World Bank for Tejaswini ‚­ Socio‚­Economic Empowerment of Adolescent Girls and Young Women Project ?

43
63
53
93
None of These


36. Indian Software Firm ____________ rated among top 3 most‚­valuable brands in Information Technology (IT) sector by global brand valuation firm ‚­ Brand Finance (IBM and Accenture are top 2). Overall global position of __________ stayed 25th in 2016 ?

TCS
Wipro
Infosys
HCL
None of These


37. Indian construction Firm ___________ and European missile major MBDA will set up joint venture to develop and manufacture missiles in India ?

Essar Group
Adani
Reliance
Tata Projects
Larsen and Toubro


38. Indian e‚­Commerce Firm ____________ signed partnership with Microsoft, to adopt Microsoft Azure as __________'s public cloud computing platform ?

Flipkart
Snapdeal
Amazon
Cliq
None of These


39. International Finance Corporation (World Bank Group) has signed agreement with India's FIDC (_______________) to conduct training programmes for Non Banking Finance Companies (NBFCs) ?

Fuel Industry Develoment Council
Finance Industry Develoment Council
Finance Inclusion Develoment Council
Finance Industry Deployment Council
None of These


40. __________ partnered with Bangalore based fin‚­tech startup firm Fisdom to launch mobile application FINFIT, to offer customers with financial planning and personal wealth management services based on Robo advisory ?

HDFC Bank
SIB
Kotak Mahindra Bank
SBI
Lakshmi Vilas Bank


41. Lok Sabha passed Payment of Wages (Amendment) Bill 2017 to enable employers to pay wages to workers through cheque or directly crediting to their accounts. Bill will replace Ordinance promulgated by President in December 2016 to amend Payment of Wages Act _____________.

Earlier in parent Act, employer could only pay salaries by cheque or by crediting into bank account after obtaining employee's written authorisation. Now, employer can pay employee by cheque or by crediting into his bank account without written authorisation. Government issued an ordinance in Dec 2016 to amend Payment of Wages Act because after demonetisation of 500 and 1000 banknotes, empoyers were facing difficulties paying workers in cash ?

1836
1936
1946
1956
None of These


42. Ministry of Women & Child Development clarified that ______________ Scheme has no provision for individual cash transfer component and warned entities / individuals misguiding about the same ?

Mid Day Meal
Beti Bachao Beti Padhao
Mudra Yojana
MNREGA
None of These


43. National Association of Software and Services Companies (NASSCOM) signed MoU with IoT Acceleration Consortium (ITAC) ____________, To address digital technology shifts and accelerate IoT (Internet of Things) adoption at a global level across industry ?

Japan
China
USA
Russia
None of These


44. Organisation for Economic Co‚­operation and Development (OECD) stated India’s GDP growth at _______________for current fiscal, 7.3% for next and 7.7% for 2018‚­19.

As per IMF (International Monetary Fund), India's growth is projected to slow to 6.6% in 2016‚­17 ?

8.5%
7.5%
8%
6%
7%


45. _____________ Celebrated 75th Foundation Day. As part of it ‚­ Mobile wallet ‘Batuaa’ was launched, MSME schemes ‚­ Sanjeevani for doctors for setting up new hospitals and clinics and ‘Budget Hotels and Restaurants for individuals, proprietors, companies etc were also launched ?

Axis Bank
Oriental Bank of Commerce
State Bank of India
Allahabad Bank
None of These


46. Reserve Bank Of India will reimburse MDR (_____________) charges to banks for payments made since January 1, 2017 through debit cards by citizens. It is in line with government's move to push digital solutions further ?

Merchant Discount Rate
Mutual Discount Rate
Market Discount Rate
Merchant Dual Rate
None of These


47. Reserve Bank of India (RBI) permitted NRIs access ETCD (________________________) market, enabling NRIs to hedge currency risk due to making investment in India. Upto now, NRIs were allowed to hedge their currency risk through OverThe‚­Counter (OTC) transaction with Authorized Dealer (AD) banks. Access to ETCD market will provide them additional hedging options ?

Exchange tangible currency derivatives
Energy traded currency derivatives
Exchange traded currency decoratives
Exchange traded core derivatives
Exchange traded currency derivatives


48. Reserve Bank of India (RBI) permitted multilateral and regional financial institutions (FIs) to invest in ‘______________’, rupee denominated bonds issued by Indian entities.

This will allow multilateral agencies like Asian Development Bank (ADB) and BRICS led New Development Bank (NDB) to invest in these bonds. It also provides more choices for investors to Indian entities issuing rupee‚­denominated bonds abroad ?

Masala bonds
Mutual Bonds
Convertible Bond
Term Bond
None of These


49. Reserve Bank of India emhanced limit on weekly withdrawal of cash from savings bank accounts to INR ______________. Now, There is no limit on current account and there is a cap of 50,000 for farmers a week and 2.5 lack for marriage ?

100000
50000
25000
40000
None of These


50. Reserve Bank of India increased gold loan limit for RRBs (Regional Rural Banks) to Rs __________ from 1 lakh, to help farmers / artisans to have access to credit who are willing to pledge gold as collateral ?

5 lakh
4 lakh
3 lakh
1 lakh
2 lakh


51. ______________ will set up separate Enforcement Department to efficiently monitor banks in case they violate KYC and Money Laundering regulations ?

Reserve Bank of India
SEBI
NABARD
SIDBI
None of These


52. Small Industries Development Bank of India (SIDBI) signed MoU with __________ for providing concessional finance to micro and small enterprises (MSEs) ?

State Bank of India
Allahabad Bank
Vijaya Bank
Andhra Bank
None of These


53. ______________ has been awarded ISO 27001: 2013 certification for its Information Security Management System (ISMS). This certification involves extensive audit by British Standards Institution (BSI) on various domains of IT functions ?

Kotak Mahindra Bank
ICICI Bank
Lakhsmi Vilas Bank
South Indian Bank
None of These


54. State Bank of India (SBI) rebranded its website as _______________ from earlier sbi.co.in. New domain name is highest domain protocol known as generic top level domain (gTLD). SBI became first banking organisation in India to use a gTLD for its online presence ?

sbi.info
sbi.org
sbi.in
sbi.com
bank.sbi


55. _____________ High Court ordered state government to enact law to eradicate Seemai Karuvelam (prosopis juliflora) trees within 2 months. Seemai Karuvelam is invasive species of tree harmful to environment as it sucks lot of water, affecting environment and agricultural activities ?

Mizoram
Manipur
Tamilnadu
Assam
None of These


56. ___________ partnered with Hewlett Packard to support roll‚­out of Its Internet of Things platform, LoRa network ?

Tata Communications
Reliance Communications
One97 Communications
Microsoft
None of These


57. Tata Power Renewable Energy Ltd installed 15 MW solar plant at Bellampally in _______________, taking Tata Power's installed capacity to 10500 MW ?

Karnataka
Telangana
Andhra Pradesh
Assam
None of These


58. ___________ Government signed MoU with NABARD for loan of 874 crores, to be used for Horticulture Development Corporation to cover 3.15 lakh acres under Micro Irrigation scheme for 2016‚­17 and 2017‚­18 ?

Telangana
Karnataka
Kerala
Andhra Pradesh
None of These


59. To push digitalisation and cashless economy, _______________ tied up with IFFCO to provide co‚­branded debit cards with inbuilt overdraft facilities to farmers ?

BOB
SBI
PNB
HDFC Bank
None of These


60. Ujjivan Small Finance Bank started its operations with 5 pilot branches in __________ ?

Nashik
Ahmedabad
Delhi
Bengaluru
None of These


61. ____________ launched railway ticket booking facility by having a direct tie‚­up with IRCTC ?

Dena Bank
Bank of India
Union Bank of India
United Bank of India
None of These




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