Banking and Economy Current Affairs Quiz - October 2016

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1. According to the data by RBI ,India’ banking system reported total deposits of Rs __________ for first time ever in September 2016 ?

100 lakh crore
200 lakh crore
300 lakh crore
400 lakh crore
None of These


2. Aditya Birla Group pledged investment of Rs. 20,000 crore in ____________, during state's Global Investors Summit. ?

Manipur
Maharashtra
Madhya Pradesh
Meghalaya
None of These


3. As per World Bank’s report‚ South Asia Economic Focus, India's GDP growth will remain 7.6 % in 2016 and _________ in 2017 ?

6.7 %
8.7 %
7.2 %
7.7 %
None of These


4. As per World Economic Outlook (WEO) report of International Monetary Fund (IMF), India’s GDP growth forecast has been raised to ________ for FY17 (2016-17 ) and FY18 (2017-18) ?

9.6 %
6.6 %
7.9 %
6.8 %
7.6 %


5. BSE Data on Market Capitalization - ____________ is India‚„s most valuable company with a market capitalization of Rs4.66 trillion, followed by Reliance Industries (3.49 Trillion INR), HDFC Bank (3.21 Trillion INR) and ITC Limited (2.90 Trillion INR). Oil and Natural Gas Corp. (ONGC) beat Infosys become 5th most valuable company in India (2.37 Trillion INR), while Infosys is valued at 2.36 Trillion INR ?

SBI
Adani Group
TCS
ICICI Bank
None of These


6. _______________ tied up with United India Insurance Company. UIIC products can now be bought at any branch of __________ ?

Bank of Maharashtra
Dena Bank
Indian Overseas Bank
Oriental Bank of Commerce
None of These


7. Banknotes of denomination of Rs _________ will be in circulation very soon, as per a Reserve Bank of India report.?

5000
2000
3000
10000
None of These


8. Benami Transactions (Prohibition) Amendment Act 2016 designed to curb black money and passed by parliament in August 2016, came into effect. New law amended Benami Transactions Act 1988 and renamed it as Prohibition of __________ ?

Benami Property Transactions (PBPT) Act 1988
Benami Transactions Act 1988
Benami Property Act 1988
Benami Property Deals Act 1988
None of These


9. Central Vigilance Commission (CVC) asked public sector banks to share their reports relating to all loan frauds involving funds over __________ rupees. Till date, such reports were shared with the Reserve Bank of India (RBI) only ?

1 crore
10 crore
2 crore
4 crore
None of These


10. ___________ paid back Approx 2.5 Billion Loan to three banks - ICICI Bank, Axis Bank and StanChart. ?

Adani Group
Reliance
Tata Sons
Essar Group
None of These


11. Finance Minister Arun Jaitley chaired Commonwealth Finance Ministers‚„ Meeting held at IMF Headquarters in Washington D.C. (USA) and Meet of BRICS Contingent Reserve Arrangement (CRA). Standard Chartered Bank and ____________ signed MoU on Commonwealth Small States Trade Finance Facility, to make available up to US $100 million of incremental trade finance over 3 years. India also pledged ‚£ 1,022,100 to Commonwealth Fund for technical cooperation ?

State Bank of India
ICICI Bank
Axis Bank
Bank of Baroda
None of These


12. Finance Ministry has set up a PDMC (______________), with task of streamlining government borrowings and better cash management for deepening bond markets ?

Public Dual Management Cell
Public Debt Management Cell
Public Debt Mutual Cell
Public Debt Management Ceiling
None of These


13. Fixed Term Employment has been introduced by Ministry of Labour and Employment in ______________ sector. It has been done keeping in view seasonal nature of sector and will ensure same benefits for fixed term employee in sector as a regular employee. ?

Steel
Textile
Wood Work
Petroleum
Apparel Manufacturing


14. GSTN (____________) signed Memorandum of Understanding (MoU) with Director General of Foreign Trade (DGFT) for sharing of foreign exchange realisation and Import Export code data. It is expected to strengthen processing of export transactions of taxpayers under GST, increase transparency and reduce human interface ?

Goods and Services Network
Goods and Services Native
Goods and Services Neutral
Goods and Social Network
None of These


15. Government approved support of Rs 718 Crores to __________ for payment of outstanding salaries and other employee related dues. It also approved closure of Company's Tractor Division by offering attractive VRS / VSS at 2007 notional pay scales ?

SAIL
HAL
HFL
HMT
None of These


16. Government proposed 4 GST rate slabs for new indirect tax regime, ranging 0 to 26 %, during meeting of GST Council headed by Finance Minister Arun Jaitley. Standard GST rate will be ________________, applicable for most of Goods. Few suggested exceptions are - 6 % - Costly items and necessary food items. 12 % - FMCG and Food Items 26 % - Luxury Items.

17 %
19 %
18 %
20 %
None of These


17. ___________ became first Indian Bank to complete a banking transaction using Blockchain technology. This remittance transaction has been completed in partnership with West Asia's Emirates NBD ?

HDFC Bank
ICICI Bank
Axis Bank
SBI
None of These


18. IT Firms ________ and IBM entered into 15-year partnership for automation, development and operations ?

Microsoft
HCL
Google
TCS
None of These


19. India signed Loan Agreement of US$ ____________ with World Bank, for Eastern Dedicated Freight Corridor-III (EDFC-III) Project of Dedicated Freight Corridor Corporation of India Ltd. (DFCCIL). Objective of EDFC-III Project is to augment rail transport capacity, improve service quality and enhance freight carriage throughput on 401 km Ludhiana-Khurja section of the Eastern Dedicated Freight Corridor ?

550 million
450 million
750 million
650 million
None of These


20. India's foreign exchange reserves reached a new high of USD __________ . ?

372 billion
352 billion
382 billion
472 billion
None of These

 

21. ____________ stated that adoption of GST (Goods and Services) tax will boost India‚„s medium-term growth, in form of enhanced business investments ?

International Monetary Fund
World Bank
Asian Development Bank
New Development Bank
None of These


22. _________ joined hands with HDFC Bank, ICICI Bank and Andhra Bank to retail gold coins with a new buyback option. Besides its own outlets, It also tied up with Indian Overseas Bank, Vijaya Bank, Federal Bank and YES Bank to sell gold coins in denominations of 5 gm and 10 gm coin and 20 gm bar. ?

SAIL
MMTC
BHEL
BEL
None of These


23. Ministry of Corporate Affairs Launched SPICe e-Form (_______________) , to provide speedy incorporation related services within stipulated time frames. ?

Simplified Procedure for Incorporating a Company Economically
Simplified Proforma for Incorporating a Company Economically
Simplified Procedure for Incorporating a Company Electronically
Simplified Proforma for Incorporating a Company Electronically
None of These


24. National Hydroelectric Power Corporation (NHPC) commissioned its 50 MW wind power project (WPP) in ________, Rajasthan. NHPC is constructing 5 power projects aggregating to a total installed capacity of 4290 MW including 1000 MW (Pakal Dul hydroelectric project) ?

Bikaner
Jaipur
Manesar
Jodhour
Jaisalmer


25. ________________Corporation approved 3 proposals to invest 1184 crores in transmission projects across country, including transformation capacity in the southern region, sub-station works in Vemagiri in Andhra Pradesh, and a transmission system for Ultra Mega Solar Park at Tumkur in Karnataka. ?

NHPC
SAIL
Power Grid
GAIL
None of These


26. Power Minister Piyush Goyal assured 100 % electrification of India by May 1, _________. ?

2017
2018
2019
2022
None of These


27. _________ Agricultural University and FieldFresh Foods signed MoU to carry out a corn productivity research programme. ?

Navsari
Punjab
Junagadh
Assam
None of These


28. Rani ki Vav (_____________) (UNESCO World Heritage Site) named as Cleanest Iconic Place (among top 25 Adarsh Monuments) by Ministry of Culture at Indian Sanitation Conference (INDOSAN) 2016. Archaeological Survey of India (ASI) protected historical monuments and archaeological sites as polythene-free zones, up to 300 meters from protected boundaries. ?

Rajasthan
Uttar Pradesh
Gujarat
Madhya Pradesh
None of These


29. Reserve Bank of India (RBI) Working Group on Rationalisation of Branch Authorisation Policy, chaired by ______________ has proposed easing bank branch norms, like a building, number of employees etc to facilitate financial inclusion. Bank branches (including those having business correspondents) providing minimum 4 hours of service for 5 days a week, should be allowed to be treated as a full-service branch. Any other fixed point unit of the bank not complying with minimum working period should be considered a ‚Ëœpart-time banking outlet‚„. ?

Arvind Mayaram
Amartya Sen
Raghuram G Rajan
G. Gurucharan
Lily Vadera


30. Reserve Bank of India (RBI) permitted startups to raise external commercial borrowings (ECBs) of up to ___________ in a financial year for three year tenure ?

$1 million
$2 million
$3 million
$4 million
None of These


31. State Bank of India (SBI) declared ______________ as its 5th zone in North East to facilitate banking issues for the customers of Mizoram, Tripura and Manipur along with the Barak Valley of North east India ?

Jorhat
Tawang
Guwahati
Silchar
None of These


32. __________ opened a foreign branch in Yangon (Myanmar) and became the first domestic bank of India to open a branch in Myanmar ?

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


33. Telecom Regulatory Authority of India (TRAI) recommended Department of Telecom (DoT) to impose penalty of _______ crore rupees on Bharti Airtel, Vodafone and Idea cellular, for denying interconnectivity to newcomer Reliance Jio ?

3,050
4,050
5,050
6,050
None of These


34. To help in doubling farmers' income by _________, NABARD sanctioned loan of 19 702 crore to National Water Development Agency (NWDA) for 50 irrigation projects from 11 States under Long Term Irrigation Fund (LTIF) ?

2023
2021
2019
2020
2022


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