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Banking and Economy Current Affairs Quiz - September 2017

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

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1. Finance Ministry imposed ______________ countervailing duty (CVD) on certain Chinese flat steel products for 5 years to protect domestic players from cheap subsidised imports ?

18.95%
8.95%
28.95%
15.95%
None of These


2. Fitch declared that Indian banks will need an additional capital of __________ billion in order to satisfy all banking rules of global Basel III norms,by March 2019. ?

$25
$45
$65
$95
None of These


3. ADB (Asian Development Bank) signed Loan deal worth $200 Million with India's ____________ to provide loans for low income women in rural areas ?

ICICI Bank
Axis Bank
HDFC Bank
IndusInd Bank
None of These


4. ________ will shut down its e-commerce site Abof.com by December 2017, amid strong competition in sector. ?

TATA Group
Reliance Group
Bharti Group
Adani Group
Aditya Birla Group


5. Air India tied up with _________ and IndusInd Bank to secure loans of over Rs 3,000 crore for meeting working capital requirements ?

BOB
SBI
PNB
Canara Bank
None of These


6. Airtel Business (part of Bharti Airtel) launched __________ as a solution designed to enable small businesses and start-ups to file GST returns securely and seamlessly ?

GST Advantage 
GST Saral
GST Path
GST Sahaj
None of These


7. Airtel launched Office-In-a-Box for start-ups registered under _____________ government’s Start-Up Cell initiative. ?

Kerala
Karnataka
Goa
Gujarat
None of These


8. As per Report, ___________ leads with 77% registration in new tax regime of GST, leaving behind national average of 23% ?

West Bengal
Kerala
Karnataka
Mizoram
None of These


9. As per survey by Brand Finance, ___________ is India’s most trusted and popular bank, followed by HDFC Bank and Central Bank of India. On popularity charts, ICICI Bank and HDFC Bank take 2nd and 3rd spots respectively ?

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


10. Asian Development Bank (ADB) approved loan of $80 million (about Rs 524 crore) for modernization of _____________’s technical and vocational education and training (TVET) institutions ?

Punjab
Haryana
Jammu and Kashmir
Himachal Pradesh
None of These


11. Asian Development Bank (ADB) will increase its annual lending to India to maximum of _______ billion between 2018 and 2022, much higher than average $2.65 billion a year in loans extended during 2012 and 2016 ?

$5
$8
$10
$4
None of These


12. ___________ appointed Goldman Sachs, JPMorgan Chase, Axis Bank, JM Financial and Kotak Mahindra Bank as lead managers to manage its proposed initial public offering (IPO). It will look to raise INR 5000 crores by IPO in 2018?

Shivakik Bank
Bandhan Bank
Lakshmi Vilas Bank
Karur Vyasa Bank
None of These


13. ___________ wlll become 8th Maharatna company, upgrading from its Navratna status.

  1. Maharatna category for CPSEs was introduced in 2009, to empower them to expand their operations globally.
  2. At present, there are 7 Maharatna companies — Bharat Heavy Electricals (BHEL), Coal India (CIL), GAIL (India), Indian Oil Corporation, NTPC, Oil and Natural Gas Corporation (ONGC) and Steel Authority of India (SAIL).
  3. Criteria for grant of Maharatna status Include annual turnover of Over INR 25000 crores, annual net worth of Over 15000 crores and annual net profit after tax of Over 5000 crores, during last 3 years.
Bharat Electronics Limited
Bharat Dynamics Limited
IRCON
BSNL
Bharat Petroleum Corporation


14. E-Commerce Firm Amazon tied up with the ___________ to offer micro loans to its sellers, to attract more sellers. Amazon Seller Services Pvt Ltd (ASSPL), is bringing in more financial partners so that it can cater to its 225,000 seller base ?

Bank of Baroda
SBI
PNB
Axis Bank
None of These


15. Finance Ministry announced to launch ____________from October 2017, to restrict black money holdings and transactions.

  1. Project Insight has been developed by L&T Infotech Ltd and costs approx $156 Million USD.
  2. It will observe and check high value transactions and track tax evaders with the help of technology to restrict black money holdings.
  3. It will also check social media posts and activity of people, to determine tax evasion practices.
Project Cleansing
Project Drishti
Project Inside
Project Insight
None of These


16. _____________ (previously Disha Microfin Limited) started its banking operations with branches across Gujarat, Tamil Nadu, Karnataka and Andhra Pradesh ?

Equitas
Capital Small Finance Bank
Fincare Small Finance Bank
Janlakshmi
None of These


17. Fino Payments Bank launched its mobile banking app called ___________ in India, as extension of its already existing wallet in same name that was launched in December 2016. ?

Airtel
BPayi
Paytm
Vodafone
None of These


18. GDP Growth Rate Forecasts -

  1. Japanese financial services company Nomura stated that India’s GDP growth will be around 7.1 % in 2017-18.
  2. Asian Development Bank (ADB) predicted _______ for India in 2017 - 18 and 7.4 % in 2018 - 19.
  3. OECD (Paris based think tank) announced that Indian economy will grow at 6.7 % in 2017-2018
8 %
7 %
6 %
6.5 %
None of These


19. GST Network (GSTN) reopened registration for composition scheme for small taxpayers with turnover of up to Rs. ________, that offers easy compliance for business as returns are to be filed only quarterly (not monthly) ?

55 Lakh
85 Lakh
25 Lakh
75 lakh
None of These


20. _________ launched mobile wallet and payments app Tez in India, that will let users link their phones to their bank accounts to pay for goods in physical stores and online, also enabling person to person money transfers ?

Google
Microfost
Facebook
TCS
None of These


21. Government approved DIDF (__________________) with outlay of Rs 10881 crore during 2017-18 to 2028-29.

  1. DIDF will be set up as a corpus of INR 8004 crores with National Bank for Agriculture and Rural Development (NABARD), INR 2001 crores shall be end borrowers contribution, Rs 12 crore would be NDDB/NCDC‘s share and Rs 864 crore shall be contributed by DADF towards interest subvention.  
  2. DIDF activities will include building efficient milk procurement system by setting up of chilling infrastructure & installation of electronic milk adulteration testing equipment, creation/modernization/expansion of processing infrastructure.
  3. DIDF will be implemented by National Dairy Development Board (NDDB) and National Dairy Development Cooperation (NCDC) through End Borrowers such as Milk Unions, State Dairy Federations, Multi-state Milk Cooperatives, Milk Producer Companies etc. End borrowers will get the loan @ 6.5% per annum with repayment period 10 years.
  4. With this, Approx 1 crore farmers in about 50,000  villages would be benefitted in form of Additional Milk processing capacity of 126 lakh litre per day, milk drying capacity of 210 MT per day, milk chilling capacity of 140 lakh litre per day etc.
Dairy Processing & Infrastructure Development Fund
Daily Processing & Infrastructure Development Fund
Duly Processing & Infrastructure Development Fund
Dairy Processing & Infrastructure Deployment Fund
None of These


22. Government approved releasing additional _________ Dearness Allowance (DA) to Central Government employees and Dearness Relief (DR) to pensioners with effect from 1 July 2017. It will benefit about 49.26 lakh Central Government employees and 61.17 lakh pensioners ?

2 %
1 %
3 %
4 %
None of These


23. Government kept unchanged interest rates on small savings schemes for October-December quarter.

  1. Investments in PPF (_________________) scheme - 7.8 percent
  2. Kisan Vikas Patra (KVP) - 7.5 percent (matures in 115 months)
  3. Sukanya Samriddhi Account Scheme - 8.3 percent annually.
  4. 5-year Senior Citizens Savings Scheme - 8.3 percent (interest paid quarterly.
Private Procurement Fund
Private Provident Fund
Public Procurement Fund
Public Provident Fund
None of These


24. Government notified that P2P (____________) platforms will be treated as non-banking financial companies (NBFCs) and thus regulated by Reserve Bank of India (RBI).

  1. It will help P2P lenders to gain official recognition and opens new avenues for fund-raising and business expansion.
  2. P2P lending is a form of crowd-funding used to raise loans which are paid back with interest. It enables individuals to borrow and lend money, without use of an official financial institution as an intermediary.
Peer-to-peer leaking
Peer-to-peer leading
Pole - to - pole lending
Person - to - person lending
Peer - to - peer lending


25. Government reconstituted 6 Cabinet Committees after recent ministry reshuffle.

  1. Defence Minister ___________ is inducted as full time member of Cabinet Committee on Security, Cabinet Committees on Economic and Political Affairs.
  2. Railway Minister Piyush Goyal and Dharmendra Pradhan are included in Cabinet Committee on Economic Affairs (CCEA).
  3. Cabinet Committees Constituted under Transaction of Business Rules (TBR) 1961 are -
    1. Appointments Committee of the Cabinet (ACC).
    2. Cabinet Committee on Accommodation (CCA).
    3. Cabinet Committee on Economic Affairs (CCEA).
    4. Cabinet Committee on Parliamentary Affairs (CCPA).
    5. Cabinet Committee on Political Affairs (CCPA).
    6. Cabinet Committee on Security (CCS)
Nitin Gadkari
Suresh Prabhu
Nirmala Sitharaman
Dharmendra Pradhan
None of These


26. ____________ has retained its No.1 position in BrandZ India Top 50 report 2017, with its brand value doubled from $9.4 billion to $18 billion since 2014. Others in top 5 are - Airtel, State Bank of India, Asian Paints, ICICI Bank ?

HDFC Bank
TCS
HCL
Infosys
None of These


27. ________________ surpassed Tata Consultancy Services (TCS) to become country’s 2nd most valued firm in terms of market valuation on Bombay Stock Exchange (BSE).

  1. Reliance Industries is India’s most valued firm with market cap of Rs. 533818.72 crores.
ICICI Bank
HDFC Bank
Infosys
Tata Power
None of These


28. _____________________ signed agreement with Indian microfinance industry association Sa-Dhan to develop digital ecosystem for India's unbanked segment ?

HDFC
ICICI
HSBC
SBI
None of These


29. ICICI Bank announced a new home loan scheme that offers borrowers benefit of ________ cashback on every EMI, for entire tenure of loan (15 - 30 years). Cashback will be accrued from first EMI and will given to customer after completion of 36th EMI ?

.5 %
4 %
3 %
2 %
1 %


30. _________ launched ‘Project Nishchay’ in partnership with the Boston Consulting Group (BCG) to accelerate its turnaround program and improve financial performance ?

Axis Bank
ICICI Bank
IDBI Bank
Kotak Mahindra Bank
None of These


31. India signed a loan deal worth $76 million with ___________ International Cooperation Agency to upgrade environment management plan at Alang-Sosiya ship recycling yards in Gujarat ?

Vietnam
USA
UK
Japan
None of These


32. Indian IT Firm __________ acquired London-based Brilliant Basics for GBP 7.5 million ?

HCL
Infosys
TCS
Wipro
None of These


33. Insurance Regulatory and Development Authority of India (IRDAI) approve online non-life insurance company ____________ and it will start operating in December 2017. It will sell multiple insurance products through online channel. ?

Acko General Insurance
Iffco Tokyo General Insurance
Bajaj Allianz Insurance
Birla Sun Life Insurance Company
None of These


34. International Finance Corporation (Member of World Bank Group) invested $10 million in Indian Power Sector startup firm Power2SME.

  1. IFC will also invest USD ________ in realty firm Mahindra Lifespace Developers industrial park projects
100 million
5 million
250 million
150 million
50 million


35. Markets regulator _____________ barred Orion Capital, Orion Broking and their partners from securities markets for 10 years for failing to redress several investor grievances pertaining to non- settlement of funds due to the clients.

RBI
SEBI
IRDAI
LIC
None of These


36. Ministry of Commerce and Industries has set up _________ online service for effective resolution of foreign trade-related issues of importers and exporters. It will enable traders to raise all trade related matters to Directorate or other agencies of Centre and States ?

Contact@DGFT
Connect@DGFT
Contact@DOPT
Connect@DOPT
None of These


37. Ministry of Housing & Urban Affairs (MHUA) ordered review of Floor Space Index (FSI) and Floor Area Ratio (FAR) norms in mega cities.

  1. FSI is ratio of building’s total floor area to size of piece of land on which it is built. It will be taken up in all 53 cities with population above _____________.
5 Million
4 Million
2 Million
10 Million
1 Million


38. Multilateral funding agency ADB approved USD ________ million loan for carrying forward fiscal reforms in West Bengal.

  1. West Bengal for the first time in 2012 received a USD 400 million from ADB.
300
200
500
100
None of These


39. National Bank for Agriculture and Rural Development (NABARD) sanctioned loan of Rs.119 crore for __________ to construct 7 bridges and improvement of one rural road project in five districts ?

Himachal Pradesh
Haryana
Punjab
Jammu and Kashmir
None of These


40. New Gross State domestic product data by Central Statistics Office, with ________ as base year -

  1. Jammu and Kashmir and Arunachal Pradesh were fastest expanding State economies in 2015-16. Arunachal Pradesh’s gross State domestic product (GSDP) expanded 16.5 % and that of Jammu and Kashmir 14.7 %. National growth rate remained 8 %.
  2. Top 5 - Maharashtra (16.6 lakh crores), Tamil Nadu (9.4 lakh crores), Gujarat (9.013 Lakh Crores), Uttar Pradesh (9.012 Lakh crores).
2005 - 06
2008 - 09
2012 - 13
2010 - 11
2011 - 12


41. _________ partnered with National Payments Corporation of India (NPCI) to launch a RuPay-powered digital debit card for its Payments Bank users. Customers will be able to transact at merchants accepting credit / debit cards ?

Airtel
Paytm
Fino
India Post
None of These


42. Private Bank __________ and India's second largest Microfinance company Bharat Financial Inclusionsigned confidentiality agreement for proposed merger between them ?

Axis Bank
IndusInd Bank
ICICI Bank
HDFC Bank
None of These


43. ___________ and BSNL partnered to roll out open mobile wallet Speedpay across 10 states ?

Punjab National Bank
Axis Bank
SBI
ICICI Bank
None of These


44. _________ received in-principle approval from Insurance Regulatory and Development Authority of India (IRDAI) for its initial public offering (IPO) ?

LIC
Kotak Mahindra Bank
SBI
Bajaj Allianz Insurance
Reliance General Insurance


45. Reserve Bank of India (RBI) announced that Masala bonds (rupee-denominated overseas bonds) will be treated as ECB (__________), thereby freeing up more investments by FPIs. Current limit for investment by foreign portfolio investors (FPIs) in corporate bonds is Rs 244323 crore (including masala bonds of 44,001 crores) ?

Economical Commercial Borrowings
External Commercial Borrowings
Ethical Commercial Borrowings
External Commercial Bureaucracy
None of These


46. Reserve Bank of India (RBI) released its 2017 list of the Domestic Systemically Important Banks (D-SIBs) and added ____________ as a D-SIB. Now, It has joined State Bank of India (SBI) and ICICI bank, that are tagged as D-SIBs or too-big-to-fail for consecutive 3rd year ?

HDFC Bank
Axis Bank
Kotak Mahindra Bank
Indusind Bank
None of These


47. Reserve Bank of India (RBI) stated that it uses sophisticated CVPS (__________________) Machines for checking numerical accuracy and genuineness of currency notes including Specified Bank Notes of Rs 500 and Rs 1000 instead of counting machines ?

Currency Validation & Procurement
Currency Validation & Processing
Currency Verification & Production
Currency Verification & Procurement
Currency Verification & Processing


48. Reserve Bank of India will introduce _______ rupees coin to mark 100th birth anniversary of AIADMK founder M G Ramachandran, weighing 35 grams ?

100
200
500
50
None of These


49. SBI (State Bank of India) launched its new Management Institute in _________ (overall 6th) named as State Bank Institute of Management (SBIM)?

Ahmedabad
Kolkata
Jaipur
Hyderabad
None of These


50. SBI Life Insurance received approval from Securities and Exchange Board of India for an IPO (Initial Public Offering) of up to Rs _______________________ crore. SBI owns 70.1 % of SBI Life Insurance and BNP Paribas Cardif holds 26 % stake.

  1. SEBI also allowed ICICI Lombard General Insurance Company to launch its approx INR 6,000 crores initial public offer (IPO).
10,400
4,400
5,400
6,400
8,400


51. SEBI allowed REITS (__________) and Infrastructure Investments Trusts (InvITs) to raise capital by issuing debt securities. REITs now require to have 50% stake in holding company, marginally less from earlier limit of 51%. REITs have been allowed to lend to an underlying holding company or a special purpose vehicle (SPV) ?

Real Estate Investment Trusts
Real Estate Internal Trusts
Real Economical Investment Trusts
Rear Estate Investment Trusts
None of These


52. Securities and Exchange Board of India (SEBI) has imposed Rs 2,423 crore fine on ______________, as highest ever Sebi penalty on a defaulter for illegal fund mobilisation through various schemes ?

Reliance Industries
Ujjivan Small Finance
PACL Ltd
Janlakshmi Finance
None of These


53. _________ Based DBS Bank received RBI approval to convert its existing India franchise to a locally incorporated wholly-owned subsidiary (WOS) in India ?

Russia
UK
USA
Singapore
None of These


54. State Bank of India (SBI) launched FTSE SBI Bond Index series in partnership with global index provider ________________, which will give tools to investors from India, the UK and globally to analyse India’s government bond market, and drive growth in market ?

FTSE 500
FTSE 400
FTSE 300
FTSE 200
FTSE 100


55. State Bank of India (SBI) launched its first ever chatbot called SIA (_________________), which would be powered by AI and will assist customers. It has been developed by Artificial intelligence banking platform Payjo ?

SBI Intellectual Assistant
SBI Internal Assistant
SBI Intelligent Assistant
SBI Individual Assistant
None of These


56. State Bank of India lowered Minimum Average Monthly Balance (MAB) requirement in a savings account to Rs ___________ from Rs 5,000 and also revised downwards penalties for not maintaining such balance ?

3000
2500
2000
1000
None of These


57. Telecom Regulatory Authority of India (TRAI) has cut mobile termination charges (MTC) to _________ paise per minute (currently 14 paise per minute) with effect from October 1, 2017. MTC would be completely cut by January 1, 2020.

  1. MTC is paid by operator whose subscriber makes a call to the operator whose subscriber receives the call.
  2. This will lead to reduction in call rates and will benefit subscribers further.
  3. This decision has originated from a dispute between Reliance Jio and other top telecom operator.
8
6
9
5
None of These


58. Unique Identification Authority of India (UIDAI) ruled that banks without Aadhaar enrolment centres in 10 % of branches will pay Rs.__________ fine for per uncovered branch from October 2017 ?

20,000
10,000
50,000
1,00,000
None of These


59. e-Commerce Firm ___________ developed India’s first “anti-theft” packaging to prevent goods from in-transit theft and damage, exclusive pilferage protection box specially designed for electronic goods and high-end mobiles. ?

Flipkart
Snapdeal
Amazon
Paytm
None of These




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